____ gains are taxable and occur when an asset is sold for more than its basis (the value of the asset when it was purchased by the original owner or inherited by the heirs of the original owner).
A) Realized capital
B) Income
C) Portfolio
D) Nominal
E) Real

Question

Quizplus · Accepted Answer

Realized capital gains are taxable and occur when an asset, such as stocks or real estate, are sold for more than their original purchase price or basis. The difference between the sale price and the basis is considered a capital gain and is subject to capital gains taxes.

____ Gains Are Taxable and Occur When an Asset Is