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    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 14: Property Transactions: Capital Gains and Losses,1231,and Recapure Provisions
  5. Question
    A Security That Is a Capital Asset Becomes Worthless
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A Security That Is a Capital Asset Becomes Worthless

Question 109

Question 109

True/False

A security that is a capital asset becomes worthless.The loss is deemed to have occurred on the first day of the tax year that the security becomes worthless.

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