Aa taxpayer purchased a painting in September 1990 for $3,200. The painting was stolen on 11 November 2020 and was not separately insured, so the taxpayer received only $200 from the insurance company on 4 February 2021.

Considering the facts described above, select the incorrectalternative:

Select one:

a.

The date of the CGT event will be 4 February 2021.

b.

The loss of the painting triggers CGT Event C1.

c.

The taxpayer will have a capital loss of $3,000.

d.

The date of the CGT event will be 11 November 2020.

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The detailed answer for the above question is provided below The incorrect alternative is a The date ... View the full answer