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During 2017, Kim sold the following assets: personal auto for a $1,000 loss, stock investment for a $1,000 loss, and pleasure yacht for a $1,000 loss. Presuming adequate income, how much of these losses may Kim claim?

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FreshPrinxce

Answer:

$1000

Explanation:

Personal loss such as the loss on Yatch of $1000 and Personal auto of $1000 cannot be claimed.

However, loss of $1000 of stock investment loss can be claimed as it is a capital loss.

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