During the Current Year,Mrs

question 43

Multiple Choice

During the current year,Mrs.Mayhew received a used computer as a gift from her son for her personal use.The computer has a current fair market value of $350 and cost her son $850.He took $400 of depreciation deductions while it was used in his business.Mrs.Mayhew uses the computer for several years and then sells it for $200.What is the amount and type of gain or loss that Mrs.Mayhew recognizes on the sale?

• A)$0 gain or loss
• B)$150 Section 1245 loss
• C)$150 Section 1231 loss
• D)$250 Section 1231 loss
• E)None of the above

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Definitions:

Erectile Disorder

A condition characterized by the inability to achieve or maintain an erection sufficient for satisfactory sexual performance.

Premature Ejaculation

A sexual dysfunction characterized by ejaculation that occurs sooner during sexual activity than the person or their partner would like.

Dyspareunia

A condition marked by pain during sexual intercourse, often due to medical or psychological causes.

Gender Dysphoria

Distress resulting from a disagreement between one’s biological sex and one’s gender identity.