C Replaced the Car That She Had Used Exclusively for Her

question 23

Multiple Choice

C replaced the car that she had used exclusively for her business with a new model.The older car cost $20,000, and its basis after allowable depreciation had been $15,500 at the time C converted it to personal use.This year C sold the older car for $9,000.What loss on the sale may she claim as a deduction?

• A)$0
• B)$6,500
• C)$11,000
• D)C's loss is indeterminable from the given information.

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Definitions:

Bind

To secure or tie something tightly or to stick together; in computing, it can refer to the practice of linking or establishing a connection between two pieces or elements.

CD4+ Count

A measure of the number of CD4+ T lymphocytes in the blood, an important indicator of immune function in individuals, particularly in the context of HIV/AIDS.

AIDS

Acquired Immune Deficiency Syndrome, a chronic, potentially life-threatening condition caused by the human immunodeficiency virus (HIV).

Final Stage

The last phase in a process or condition, often indicating the ultimate progression or conclusion of something.