Series 22: 2.5. Taxation Of Capital Gains

Taken from our Series 22 Top-off Online Guide

2.5.  Taxation of Capital Gains

Tax basis (adjusted cost basis) is applied for tax purposes to determine whether profits from a sale must be classified as capital gains or ordinary income. As you know, capital gains are the profit one earns from selling a capital asset. Ordinary income is income derived from day-to-day operations, incl

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