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  1. business
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  3. in march this year, vince sold his personal autom

In March this year, Vince sold his personal automobile for $5,000. His basis ...

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Question

Accounting

In March this year, Vince sold his personal
automobile for $5,000. His basis
for the automobile was $12,000.
He may not deduct a $3,000
capital loss this year and carry
over a $4,000 loss.
True
False
image

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