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 Form 3885l 2018

Ca 3885l Fillable 2018-2025 Form

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Instructions and help about 2018 3885l

hello and welcome to session 15 of the basic tax course we're going to begin session 15 with the review of the session 14 homework answer key and if you recall session 14 was a discussion of the basis of Assets in other words how do we arrive at the cost basis that an individual or business has in a particular asset now we also spent some time uh defining or identifying when an asset is considered to be a capital asset and what it is not a capital asset the importance of identifying an asset as either capital or non- capital is because we need to be able to determine what form that sale will be reported on if the asset is disposed of so for example if I purchase my home and then I sell my home and I sell my home for a profit that is taxable what form do I use to report the sale of my home on well the answer is it's going to be Schedule D because my home is a capital asset so that's the form I use to report the sale conversely if I sell an asset that was used in

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