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Sol Purchased Land as an Investment on January 12,2014 for $85,000.On

Question 2

Multiple Choice

Sol purchased land as an investment on January 12,2014 for $85,000.On January 31,2017 Sol sold the land for $90,000 cash.What is the nature of the gain or loss?


A) Long-term capital loss
B) Long-term capital gain
C) Short-term capital gain
D) Short-term capital loss
E) None of the above

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