Which is true with respect after netting the two transaction

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Reference no: EM132700274

Problem 1: Zelda owned two pieces of land used in her business. She sold Land A for a $100,000 gain and Land B for a $120,000 loss. She sold no other property during the year. Which of the following is/are true with respect after netting the two transactions?

Select one:

a. Land A is an ordinary gain and Land B is an ordinary Loss

b. Land A is a LTCG and land B is a LTCL.

c. Land A is LTCG and Land B is an ordinary loss.

d. Land A is an ordinary gain and land B is a LTCL

Reference no: EM132700274

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