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Choose the statement that is INCORRECT regarding a loss that is generated from the disposal or sale of assets for individuals. Losses from personal use

Choose the statement that is INCORRECT regarding a loss that is generated from the disposal or sale of assets for individuals.

Losses from personal use assets are deductible for AGI.

When capital losses exceed capital gains, up to $

3, 000

can be deducted for AGI.

Losses from capital assets are deductible against gains from capital assets.

Losses from business assets are deductible for AGI.

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