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Consider a taxpayer that holds real property and has not incurred any taxable capital gains in the previous three taxation years. The property was originally
Consider a taxpayer that holds real property and has not incurred any taxable capital gains in the previous three taxation years. The property was originally purchased 3 years ago for $75,000. The current fair value of the property is $50,000. From a tax standpoint, which of the following is the BEST option? .... Choose the correct answer. O A. Trade the property for another parcel with a fair value of $50,000. O B. Hold the property and wait for the value to appreciate. OC. Sell the property and acquire similar property as a higher cost to recognize an allowable capital loss. OD. Sell the property to realize an allowable capital loss
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