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What makes the disposition of an asset a "capital gain" or "capital loss" instead of an ordinary gain or loss? Why do you think the distinction was written into the tax code? Why the distinction between long and short term?

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Taxation Question is discussed very comprehensively in this explanation.

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What makes the disposition of an asset a "capital gain" or "capital loss" instead of an ordinary gain or loss? Why do you think the distinction was written into the tax code? Why the distinction between long and short term?

Under US Tax Code's section 1222, gain or loss from sale ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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