Capital gains tax that is not payable on installment basis is due a) within 30 days from the date of sale or exchange b) on the 30th day following the month of the sale. c) on the 15th day of the following month. d) within 15 days after the sale

Capital gains tax that is not payable on installment basis is due a) within 30 days from the date of sale or exchange b) on the 30th day following the month of the sale. c) on the 15th day of the following month. d) within 15 days after the sale

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 3SSQ

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Question

Capital gains tax that is not payable on installment basis is due

a) within 30 days from the date of sale or exchange

b) on the 30th day following the month of the sale.

c) on the 15th day of the following month.

d) within 15 days after the sale

Definition Definition Increase in the value of a capital asset and the amount that is realized when the asset is sold off. A capital gain may be short-term or long-term depending on the tenure for which the asset is held.

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