Before the Tax Implications of Asset Sales Can Be Determined,which

question 91

Multiple Choice

Before the tax implications of asset sales can be determined,which of the following must be determined?

• A)the length of time the taxpayer owned the property.
• B)assets must be classified as either personal,trade or business,or investment assets.
• C)whether the assets are subject to depreciation.
• D)all of these.

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