On May 20,2018, Jessica purchased land for $105,647 to use in her business. She sold it on
Question:
On May 20,2018, Jessica purchased land for $105,647 to use in her business. She sold it on May 21, 2019 for $102,595. What is the amount and type of loss on this sale if Jessica does not have any other sales from a trade or business?
a. $3,052 deferred loss.
b. $3,052 long-term capital loss.
c. $3,052 ordinary loss.
d. $3,052 § 1231 loss.
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My self Vivek Johari. I have done M.Sc. Computer Science from BRA University, Agra and Pursuing M.Phil. Computer Science from LPU. I have five-year teaching experience taking Computer Science subject Classes for graduate students (National P.G. College, Bhongoan(Mainpuri) and five years of teaching experience taking PGT Computer Science with reputed Sr. Sec. School. I am associated with online teaching for the last 2 years as a Subject Matter Expert and Online tutor.
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