Match the following statements.
-Sale of the individual assets of an unincorporated sole proprietorship by the owner.
A)Transaction in this form enables double taxation to be avoided.
B)Gain or loss is calculated separately for each asset and is subject to single taxation.
C)This is subject to double taxation.
D)The sale is treated as the sale of a capital asset under § 741 but subject to ordinary income potential under §
751.
E)This is not subject to double taxation on the sale of corporate stock.

Question

Quizplus · Accepted Answer

Gain or loss from the sale of individual assets of an unincorporated sole proprietorship is calculated separately for each asset and is subject to single taxation, reflecting the direct ownership structure of a sole proprietorship.

Match the Following Statements