which of the following options cannot be used to deduct losses on a bank deposit 612763

Which of the following options cannot be used to deduct losses on a bank deposit?

a. Incorrect. A loss on a bank deposit can be deducted as a casualty loss, subject to the $100 and 10% limits.

b. Incorrect. A loss on a bank deposit up to a set dollar limit can be deducted as an ordinary loss.

c. Incorrect. A taxpayer can opt to deduct a loss on a bank deposit as a nonbusiness bad debt (short-term capital loss).

d. Correct. There is no rule in the tax law allowing a loss on a bank deposit to be deducted as a long-term capital loss.