Juan Has a Casualty Loss of $32,500 on Investment Property

question 51

Multiple Choice

Juan has a casualty loss of $32,500 on investment property after receiving an insurance settlement.This is Juan's only casualty transaction this year.Juan's loss is

• A)an ordinary loss.
• B)a capital loss.
• C)a Sec.1231 loss.
• D)a Sec.1244 loss.