Which of the following statements is true with regard to the deduction for losses Trent loaned $2,000 to his friend to pay his tuition If Trent discovers that the debt is partially worthless he can take a deduction for the partial bad debt Trent loaned $2,000 to his friend to pay his tuition If Trent discovers that the debt is completely worthless he can take an ordinary deduction for the loss Trent owns stock in LOSER Corporation which he has not sold To take a deduction for a loss this year related to LOSER the stock must be completely worthless Trent owns stock in LOSER Corporation which he has not sold If the stock is completely worthless it is treated as if it was sold on the day it became worthless

Question

Which of the following statements is true with regard to the deduction for losses  Trent loaned $2,000 to his friend to pay his tuition  If Trent discovers that the debt is partially worthless he can take a deduction for the partial bad debt  Trent loaned $2,000 to his friend to pay his tuition  If Trent discovers that the debt is completely worthless he can take an ordinary deduction for the loss  Trent owns stock in LOSER Corporation which he has not sold  To take a deduction for a loss this year related to LOSER the stock must be completely worthless  Trent owns stock in LOSER Corporation which he has not sold  If the stock is completely worthless it is treated as if it was sold on the day it became worthless

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Question

Which of the following statements is true with regard to the deduction for losses? Trent loaned $2,000 to his friend to pay his tuition. If

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