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On May 20, 2019, Jessica purchased land for $108,125 to use in her business. She sold it on May 21, 2020, for $105,595. What is

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On May 20, 2019, Jessica purchased land for $108,125 to use in her business. She sold it on May 21, 2020, for $105,595. What is the amount and type of loss on this sale if Jessica does not have any other sales from a trade or business? Multiple Choice O $2,530 deferred loss. O $2,530 long-term capital loss. $2,530 ordinary loss. O $2,530 S 1231 loss

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