Which of the following statements, if any, is false? O An individual can get lower Federal tax rates on long-term capital gains as compared to short-term capital gains. O A corporation can get lower Federal tax rates on long-term capital gains as compared to short-term capital gains. DAn individual has a taxable capital gain if they sell their personal car at a gain O Normally a taxpayer must own a capital asset for more than one year in order to get long-term capital gain (or loss) treatment on the sale of that asset. None of the above - they are all true statements.
Which of the following statements, if any, is false? O An individual can get lower Federal tax rates on long-term capital gains as compared to short-term capital gains. O A corporation can get lower Federal tax rates on long-term capital gains as compared to short-term capital gains. DAn individual has a taxable capital gain if they sell their personal car at a gain O Normally a taxpayer must own a capital asset for more than one year in order to get long-term capital gain (or loss) treatment on the sale of that asset. None of the above - they are all true statements.
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 19DQ
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Transcribed Image Text:Which of the following statements, if any, is false?
O An individual can get lower Federal tax rates on long-term capital gains as compared to short-term capital gains.
O A corporation can get lower Federal tax rates on long-term capital gains as compared to short-term capital gains.
DAn individual has a taxable capital gain if they sell their personal car at a gain
O Normally a taxpayer must own a capital asset for more than one year in order to get long-term capital gain (or loss) treatment on the sale of
that asset.
None of the above - they are all true statements.
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