Question: During 2 0 2 3 , an individual had the following gains and losses on property held for the long - term holding period: sale
During an individual had the following gains and losses on property held for the longterm holding period: sale of Orange common stock $ gain; sale of real property used in the taxpayer's business $ loss; destruction of real property used in the taxpayer's business by fire $ loss Which of the following statements is correct?
a The sale of real property is a loss.
b The fire loss would reduce the real property sale loss.
c The sale of real property loss would be netted against the stock sale gain.
d The fire loss would reduce the stock sale gain.
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