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Mike sold equipment he is no longer using in his business at a loss of $4,000, and he sold investments at a loss of $8,000. Mike had no other sales of property in the current year. What are the tax implications of these losses to Mike?

Respuesta :

Shakiru

Answer:There will be no direct tax implications for these transactions

Explanation:

This transactions are only part of a whole his other business activities especially the core business activities will be added up to this transactions in order to determine his stand in relation to tax for the year.

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