Taxation of Futures Trading Gains and Losses

question 58

Multiple Choice

Taxation of futures trading gains and losses

• A)is based on cumulative year-end profits or losses.
• B)occurs based on the date contracts are sold or closed.
• C)can be timed to offset stock portfolio gains and losses.
• D)is based on the contract holding period.
• E)none of the above.

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Definitions:

Defect

An imperfection or shortcoming in a product or system that impairs its usability, safety, or functionality.

Uncertified Check

A check that has not been verified or guaranteed by the bank upon which it is drawn, unlike a certified check.

Cash

Cash is a medium of exchange that represents real value and is used for transactions, available either as physical currency or digital form.

Refuse

To decline to accept or allow something; to show unwillingness to do, accept, give, or allow something.