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Dana purchased an asset from her brother for $15,000. Her brother's basis was $20,000. If Dana sells the asset to an unrelated party for $12,000, she will recognizeA) $0.B) ($1,000) loss.C) ($3,000) loss.
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Dana purchased an asset from her brother for $15,000. Her brother's basis was $20,000. If Dana sells the asset to an unrelated party for $12,000, she will recognizeA) $0.B) ($1,000) loss.C) ($3,000) loss.D) ($4,000) loss.

User Pablo Jadzinsky
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Answer: the answer is C $3000 loss.

Explanation

If Diana purchased the asset for $15000 and sold for $12000

$15000 - $12000 = $3000

Diana had a loss of $3000

User Mohamed Bdr
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