Which of the following is correct?
A) In determining whether a disposition is capital or business in nature, the number and frequency of transactions is taken into account.
B) A taxpayer must include 50 percent of both business income and capital gains in their Taxable Income.
C) Amounts collected under an insurance policy are considered capital gains.
D) The sale of a depreciable asset can result in a capital gain or capital loss.
Correct Answer:
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