A Worthless Security Had a Holding Period of 11 Months

question 94

Multiple Choice

A worthless security had a holding period of 11 months when it became worthless on November 10,2010.The investor who had owned the security had a basis of $10,000 for it.Which of the following statements is correct?

• A)The investor has a long-term capital loss of $10,000.
• B)The investor has a short-term capital loss of $10,000.
• C)The investor has a nondeductible loss of $10,000.
• D)The investor has a long-term capital gain of $10,000.
• E)None of the above.

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Definitions:

Social Impact

The effect of an activity on the social fabric of the community and the well-being of individuals and families.

Venture Philanthropists

Individuals or organizations that apply venture capital principles to philanthropy, focusing on building the capacity and sustainability of non-profits or social enterprises.

Scalable Models

Business strategies or systems that can easily adapt or expand to accommodate growth without compromising performance or quality.

Social Entrepreneurship

Social entrepreneurship involves starting companies or initiatives that aim to solve social problems or address community needs through innovative solutions, prioritizing social impact alongside or above profit.