Question

Find a tax glossary on any freely accessible website and provide the URL. Also find and provide a citation for the IRC section that defines a long-term capital gain.
a. What is the tax glossary’s definition of a long-term capital gain?
b. How does the IRC define a long-term capital gain?
c. Of the two definitions, which would a taxpayer without extensive tax knowledge find easier to understand? Why?
d. Which of the two definitions is relevant for a tax researcher? Why?


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  • CreatedNovember 03, 2015
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