An individual taxpayer received a valuable painting from his uncle, a famous painter. The painter created the painting. After the taxpayer held the painting for two years, he sold it for a $400,000 gain. The gain is a long-term capital gain
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: The painting is not a capital asset because it was received from its creator by gift. Therefore, the gain is not a capital gain.
Business
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Medicare was enacted to help persons with disabilities and people over the age of ________ who qualify for Social Security.
A) 59 1/2 B) 65 C) 67 D) 72
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The salesperson needs to understand both his or her superior's expectations and the kind of selling that is necessary to be successful. This knowledge is called:
A) role perception. B) role reversal. C) role acceptance. D) role requirements.
Business