Which of the following statements about investment property is false?
A) The term securities includes corporate stock,certificates of deposit,notes,bonds,and other debt instruments.
B) Interest and dividends are taxed at the same rate as long-term capital gain.
C) Interest on private activity bonds issued by a state or local government is excluded from ordinary income.
D) A mutual fund is a diversified portfolio of securities owned and managed by a regulated investment company.
Correct Answer:
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