Describe a situation where a loss on the sale of business or investment property is not currently deductible, and explain why.

Describe a situation where a loss on the sale of business or investment property is not currently deductible, and explain why. O A. Under Sec. 1091. wash sale provisions disallow losses on the sale of stock or securities if substantially identical stock or securities are purchased within 30 days before or 30 days after the sale. B. Under Sec. 267, a loss on the sale of worthless securities is disallowed if the securities were purchased under one year of the securities becoming worthless. The individual is deemed to have purchased the securities for the purpose of claiming a taxable loss. OC. Under Sec. 267, a loss on the sale of investment property between an individual and a controlled partnership or corporation is disallowed. The Individual and the controlled entity are deemed to be related parties, and therefore, the loss is disallowed OD A and C above