81. Three years ago, Geraldine bought a Kandinsky for her art collection from a mail-order advertisement for
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81. Three years ago, Geraldine bought a Kandinsky for her art collection from a mail-order advertisement for $310,000. This year, Geraldine’s art dealer told her that the painting was actually painted by Kansky and is not worth more than $310. What is her deductible loss upon discovery of the forgery?
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Federal Tax Research
ISBN: 9780324659658
8th Edition
Authors: William A. Raabe, Gerald E. Whittenburg, Debra L. Sanders
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