When Electing to Include Preferentially Taxed Capital Gains and Qualified

question 29

True/False

When electing to include preferentially taxed capital gains and qualified dividends in net investment income, taxpayers must include all preferentially taxed capital gains and qualified dividends recognized for that year.

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Definitions:

Electoral College

A body of electors established by the United States Constitution to elect the president and vice president of the country.

Constitution

The fundamental principles and established precedents according to which a state or other organization is governed.

Ordinary Voters

Individuals without significant political influence or power who participate in elections to choose their government representatives.

Three-Fifths Clause

A compromise found in the U.S. Constitution stating that for purposes of representation in Congress, every five slaves would be counted as three individuals.