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A painting that is not of investment quality is acquired by an individual for use in his home. It is later sold a a .

A painting that is not of investment quality is acquired by an individual for use in his home. It is later sold a

.

The loss on the painting is not deductible.

.

The painting is a capital asset, but the loss is not deductible

.

Choices a

.

and b

.

.

The painting was a capital asset.

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