Y Suffered a Theft of Depreciable Assets That Were Held

question 35

Multiple Choice

Y suffered a theft of depreciable assets that were held for two years for use in her business.The assets were worth $1,000 and had a basis of $1,200.Y's only other property transaction resulted in a short- term capital loss of $2,500.What is the impact on Y's adjusted gross income?

• A)$0
• B)$3,700 reduction
• C)$3,000 reduction
• D)$3,500 reduction

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Definitions:

Aggressive Behavior

Actions or responses that are intended to harm or intimidate others.

Inductive Reasoning

A reasoning technique by which numerous claims, regarded as true or typically established as true, are synthesized to deduce a specific outcome.

Reactive Aggression

An impulsive retaliation for another person’s intentional or accidental hurtful action.

Gender Differences

Differences in male and female roles, behaviors, clothes, and so on that arise from society, not biology.