Question: 22) A taxpayer sells a patent on a new algorithm for a gain. Which taxpayer will be allowed capital gain treatment for the sale? Assume
22) A taxpayer sells a patent on a new algorithm for a gain. Which taxpayer will be allowed capital gain treatment for the sale? Assume that the patent had not been placed in service as of the acquisition date. A) a sole proprietor who purchased the patent from the inventor B) a corporation who purchased the patent from the inventor C) both of the above D) none of the above
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