Roger Owns 25% of Silver Trucking, a Partnership

question 82

Multiple Choice

Roger owns 25% of Silver Trucking, a partnership. During the current year, Roger sells a truck with an adjusted basis of $25,000 to Silver for $18,000.
I.Silver's basis in the truck is $25,000.
II.Roger can deduct the $7,000 loss on the sale of the truck.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Instinct

Instinct refers to the innate, typically fixed patterns of behavior in animals and humans that are responded to specific stimuli, driven by evolutionary pressures.

Incentives

External rewards or punishments that motivate behavior or inspire action.

Stimuli

External or internal factors that elicit a physiological or psychological response in an organism.

Intrinsic Motivation

The drive to engage in activities for their own sake, because they are interesting or enjoyable, without seeking external rewards.