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1. Why might an individual who has held an appreciated capital asset for eleven months want to delay the sale of the asset? 2. May

1. Why might an individual who has held an appreciated capital asset for eleven months want to delay the sale of the asset?

2. May an employee exclude meals and lodging provided by her employer from gross income?If so, under what conditions?

3. Why is the distinction between alimony and a divorce property settlement important for tax purposes?

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