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Bubba buys a ten-year municipal and at 102 and sells it five years later at...

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Bubba buys a ten-year municipal and at 102 and sells it five years later at 101.

What is tax treatment?

A.

a $10 long-term capital loss is realized

B.

the $10 loss is applied as a reduction against ordinary income

C.

no capital loss or income deduction is realized

D.

the $10 loss is applied against future profits in municipal securities

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