Beginning in 1968 a New Wave of Immigration from the Soviet

question 6

Multiple Choice

Beginning in 1968 a new wave of immigration from the Soviet Union was from those fleeing __________________

• A) Socialism
• B) Communism
• C) Political oppression
• D) Criminal prosecutions

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Definitions:

Short-term Capital Loss

A loss realized from the sale or exchange of a capital asset held for one year or less.

Long-term Capital Gain

Profit from the sale of an asset held for more than one year, typically taxed at a lower rate than regular income.

Section 1245

A section of the tax code that involves recapturing depreciation on certain types of property as ordinary income upon sale.

Section 1231 Gain

A gain from the sale or exchange of property used in a business, subject to favorable tax treatment under Section 1231 of the U.S. tax code.