Illustrate capital gain for taxation purposes


Question: Which of the following factors is generally NOT considered in determining whether or not profit, realized on the sale of a property 18 months after it was purchased, is treated as business income rather than a capital gain for taxation purposes? Group of answer choices The seller purchased the property as a long-term investment. The seller purchased the property in order to "flip" the real estate by selling it quickly for a profit. The seller purchased the property to provide supplemental income by renting it out. The seller purchased the property to live in as their principal residence and lived on the property for ten years.

 

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Accounting Basics: Illustrate capital gain for taxation purposes
Reference No:- TGS03425512

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