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Capital Gain or Ordinary Income? Establishing Intent

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By Lou Vlahos on February 26, 2018
Posted in Federal Tax Issues

Last week’s post considered the risk assumed by a taxpayer that ignores the plain meaning of a Code provision (the definition of “capital asset”) in favor of a more “rational” – favorable? – interpretation of that provision.

capital assets

This week’s post considers the “plain meaning” of the same section of the Code: the definition of the…

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