Question: 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
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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