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GoodMad_ GoodMad_
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7 years ago
Matthew had a $4,000 gain from the sale of his car. He
A) can defer paying taxes on the gain by buying another customized car of equal or greater value.
B) need not report the gain since it arose from the sale of a personal asset.
C) must report the gain as a capital gain.
D) must report only half the gain since capital gains enjoy favorable tax treatment.
Textbook 
Personal Finance: An Integrated Planning Approach

Personal Finance: An Integrated Planning Approach


Edition: 8th
Author:
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bzapianbzapian
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7 years ago
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GoodMad_ Author
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#2
7 years ago
Such a smart group of people this forum has

thx
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