In early 2011, Ben sold a yacht, held for 9 months and for pleasure, for a $5,000 gain. Concerned about offsetting the gain before year-end, Ben is considering selling one of the following, each of which would yield a $5,000 loss:
I. A houseboat used for recreation
II. A truck used in a business
III. A stock investment held for 13 months
Evaluate each choice. Which is the best option for tax purposes? Why?
The best option for tax purposes will be a stock investment held for 13 months, because this asset is not very important in production and will not need to pay taxes from the operation.
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
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