On May 1,2015,kelalani Purchased Land for $88,000 for Use in Her

Question 64
Multiple Choice

On May 1,2015,Kelalani purchased land for $88,000 for use in her business.She sold it on May 1,2016,for $82,000.If there are no other sales of business or trade property,how is this loss treated for tax purposes on Kelalani's return? A)$6,000 long-term capital loss. B)$6,000 Section 1231 loss. C)$6,000 short-term capital loss. D)$6,000 ordinary loss.