Susan Purchased a Lot for Investment Purposes

question 109

Multiple Choice

Susan purchased a lot for investment purposes. She paid $10,000 for the lot. Three years later she sold the lot to her daughter for $8,000. Susan cannot deduct the loss due to

• A)Ability to Pay Concept.
• B)Administrative Convenience Concept.
• C)Arm's-Length Transaction Concept.
• D)Capital Recovery Concept.
• E)Pay-as-You-Go Concept.

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