A loss on the sale of an asset that is depreciable and used, Ask an Expert

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A loss on the sale of an asset that is depreciable and used in business is ________; a loss on the sale of a non-depreciable asset is ________.

a. not deductible; deductible only against capital gains

b. deductible from ordinary income; deductible only against capital gains

c. a credit against the tax liability; not deductible

d. deductible from capital gains income; deductible from ordinary income

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91590353

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