Question: Case law determined that is dealing is selling the same item in the same condition as it was acquired. Not being changed in any way.

Case law determined that is dealing is selling the same item in the same condition as it was acquired. Not being changed in any way. Share for eg - could be dealer in shares - you buy shares and then sell it. You dont change them. If trading stock - you buy trade stock , dont do anything with it and sell it , that is dealing. If you buy something and do something to it, and then you sell that is not dealing. Lot of what fall under cb5 fall as business income too. as grace buy the ticket and doesnt change them and immeidaltey sell it is like dealing... under cb5 its taxable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

I need an expert in law to help me understand if this is fraud? 1. Is it "fraud" for someone to claim that a house the person is selling is haunted? 2. Is it "fraud" for someone not to disclose that...

***PLEASE READ THIS FIRST*** I just need the following 3 questions answered. The answers for Questions 1 and 2 must be well-written, detailed, and must answer each question fully with examples from...

Read the article, "John D.R. Leonard, Plaintiff, -against- PepsiCo, Inc., Defendant," found on the website provided in the Reading & Study folder. Watch the presentations (also found in the Reading &...

please answer the 6 question I will leave a thumbs up is this better? these are much clear. I don't know what ref means? 2 BAYER AND MONSANTO: ACQUIRING A GLOBAL GIANT WITH A GIANT IMAGE PROBLEM...

COURT OF APPEAL FOR BRITISH COLUMBIA Citation: Equustek Solutions Inc. v. Google Inc., 2015 BCCA 265 Date: 20150611 Docket: CA41923 Between: Equustek Solutions Inc., Robert Angus and Clarma...

need answer for these questions 13, 17, 19, 20, and 23? PART 5 Business Valuations Chapter Business Valuations A valuation analyst should be able to explain and defend his or her valuation, including...

need answers for questions 13, 17, 19, 20, and 23? PART 5 Business Valuations Chapter Business Valuations A valuation analyst should be able to explain and defend his or her valuation, including both...

BCO 313: Negotiation at Work Anne Dwyer: a.dwyer@euruni.edu Negotiation at Work \"Managers and executives negotiate constantly over issues as varied as hiring decisions and purchases, corporate...

Bronx Machinery Inc. is a job shop. The management of Bronx Machinery uses the cost information from the job sheets to assess their cost performance. Information on the total cost, product type, and...

Calculate tax liability before tax credits for Winsome and Winchester Washington based on the following information: The Washingtons file Married joint: Salary $80,000 Qualified Sole proprietorship...

The amount of fairness given to an employee refers to

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...