In early 2014,Ben sold a yacht,held for 9 months and for pleasure,for a $5,000 gain.Concerned about offsetting the gain before yearend,Ben is considering selling one of the following-each of which would yield a $5,000 loss:
-Houseboat used for recreation.
-Truck used in business.
-Stock investment held for 13 months.
Evaluate each choice.

Question

In early 2014,Ben sold a yacht,held for 9 months and for pleasure,for a $5,000 gain.Concerned about offsetting the gain before year­end,Ben is considering selling one of the following-each of which would yield a $5,000 loss:
-Houseboat used for recreation.
-Truck used in business.
-Stock investment held for 13 months.
Evaluate each choice.

Quizplus · Accepted Answer

The Answer of In early 2014,Ben sold a yacht,held for 9 months and for pleasure,for a $5,000 gain.Concerned about offsetting the gain before year­end,Ben is considering selling one of the following-each of which would yield a $5,000 loss:
-Houseboat used for recreation.
-Truck used in business.
-Stock investment held for 13 months.
Evaluate each choice.

In Early 2014,Ben Sold a Yacht,held for 9 Months and for Pleasure,for