Betty is a real estate dealer and has numerous properties for sale, many of which she owns.
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Betty is a real estate dealer and has numerous properties for sale, many of which she owns. Her son is finishing his education and plans to go into the consulting business. Betty has committed to providing him witli at least $25,000 to help out until the business becomes self-sufficient. Betty plans to dispose of one of the properties but wants to know if there is any way the gain on the property can be taxed at capital gains rates rather than as ordinary income.
Dealer A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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As a real estate dealer Bettys sales of property would be sales of inv...View the full answer
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