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For investment purposes, a TP purchased 500 shares of Toys R Us common stock for $20 per share. At year-end his statement indicated that the
For investment purposes, a TP purchased 500 shares of Toys R Us common stock for $20 per share. At year-end his statement indicated that the shares were only worth $2 per share. What amount can he deduct as a loss this year? OA $1,000 B. None of the choices are correct He is not entitled to a loss deduction. OC.$9,000 OD. He can deduct $10,000 only if be includes $1,000 in his taxable income. OE $10,000
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