If an individual purchases an asset and sells it before he dies,the capital gains tax burden is based on the:

Name: If an individual purchases an asset and sells it before he dies,the capital gains tax burden is based on the:
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Question

Quizplus · Accepted Answer

Capital gains tax is calculated based on the difference between the sale price of the asset and the basis which is generally the purchase price plus any additional costs such as commissions or fees. Therefore, the correct answer would be A - sale price minus the basis.

If an Individual Purchases an Asset and Sells It Before