Explain the tax treatment for capital gains and capital losses.
Answer to relevant QuestionsWhat are estate, gift, and inheritance taxes? List and briefly explain three fundamental deposits and five other popular types of deposits, ranking them according to availability, safety, and liquidity. A local bank offers a “free” checking account if you maintain a minimum balance of $1,000. Is the account really free? Explain. Which method for determining the outstanding balance on a revolving credit account is likely to determine the lowest outstanding balance? Which method is likely to determine the highest outstanding balance? What function does the credit bureau perform in the lender’s evaluation of your credit application?
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