A Security That Is a Capital Asset Becomes Worthless

question 109

True/False

A security that is a capital asset becomes worthless.The loss is deemed to have occurred on the first day of the tax year that the security becomes worthless.

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Definitions:

Spouses

Partners in a marriage or a similar intimate relationship recognized legally, socially, or religiously.

Anxiety And Depression

Conditions characterized by persistent worry, fear, sadness, and a lack of interest in life that interfere with daily activities.

Widowed

The state of having lost one's spouse through death.

Length Of Time

The duration or period between two events or moments, measured in units such as seconds, minutes, hours, or years.