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Artist Joachim Rivera created the bronze sculpture, Woman in Repose . The owner recently recognized a $67,500 gain on the sale of the sculpture. Which
Artist Joachim Rivera created the bronze sculpture, Woman in Repose. The owner recently recognized a $67,500 gain on the sale of the sculpture. Which of the following statements is FALSE?
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None of these choices are false.
If a commercial art gallery that had held Woman in Repose in its inventory was the seller, the gain is ordinary.
If a private collector who purchased Woman in Repose from an art gallery was the seller, the gain is a capital gain.
If Joachim Rivera was the seller, the gain is ordinary.
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