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  1. business
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  3. the options are a) a capital gain b) an ordinary i

The options are A) a capital gain b) an ordinary income c) nontaxable income...

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Question

Accounting

image

The options are

A) a capital gain

b) an ordinary income

c) nontaxable income

imageThe answer has to be one of the above

How are gains from the sale of $ 1244 stock treated? Gains on the sale of $ 1244 stock are treated as In the current year, Juan's home was burglarized. He had the following items stolen: Securities worth $25,000. Juan purchased the securities four years ago for $20,000. New tools that Juan had purchased two weeks earlier for $8,000. He uses the tools in making repairs at an apartment house that he owns and manages. An antique worth $15,000. Juan inherited the antique (a family keepsake) when the property was worth $11,000. Juan's homeowner's policy had a $50,000 deductible clause for thefts. If his salary for the year is $50,000, determine the amount of his itemized deductions as a result of the theft. Oa. $6,000 Ob. $20,000 Oc. $3,100 Od. $26,500

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