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iv. After six months of intense effort, Claude finishes his oil painting entitled There Is No God and displays it for sale. Claude hopes to
iv. After six months of intense effort, Claude finishes his oil painting entitled "There Is No God" and displays it for sale. Claude hopes to sell his masterpiece for $25,000. Jacques, deeply offended by the painting, breaks into the gallery and destroys it. Claude sues Jacques and wins a judgment for $18,000. What are the tax consequences
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