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Sophia- Foundation to college algebra Milestone 2.
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Sophia- Foundation to college algebra Milestone 2.
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ACC 307 WEEK 10 CHAPTER 14 HOMEWORK2. Garage sales are sells of your personal item which are used and sold for less than
you paid for the item so there is to gain on the sell just a loss. The loss on sales
are not recognized.
12. Transfer of a patent is treated as the sale or exchange of a long-term capital asset
when all substantial rights to the patent are transferred by a holder. The holder of
a patent must be an individual and is usually the invention’s creator. A holder may
also be an individual who purchases the paten rights from the creator before the
patented invention is reduced to practice.
14. Property must be held more than one year to qualify for long-term capital gain or
loss treatment. Property not held for the required long-term period results in short-
term capital gain or loss. To compute the holding period, start counting on the day
after the property was acquired and include the day of disposition. Mirthra holds
will start the day of the gift.
17. Capital assets that are collectibles, even though they are held long term, are not
eligible for the 0% / 15% alternative tax rate. Instead, a 28% alternative tax rate
applies. Any work of art.
43. ACCOUNTING MASTERS LLC
P.O.BOX 252
ROSWELL GA 30077
June 13, 2013
Ms. Faith Godwin
200 Catamon Drive
Great Falls, MT 59406
RE: Stock Purchase
I am writing to respond to your concern on your stock purchase and to update you
on the tax laws on stock. The fact that you are a dealer in security you need to
identify any securities being held for investment purposes by the close of the
business on the acquisition date, gain from the securities sale will be capital gain.
However, the gain will not be capital gain if you ceases to hold the securities for
investment prior to the sale. Looses are capital losses if at any time the securities
have been clearly identified by the dealer as held for investment.
If you have any other questions please feel free to me at 123-456-7899
Sincerely
Kimberly Aaron
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