Chapter 8 Flashcards
1
Q
What Isn’t Taxed As Ordinary Income
A
Profit made from sale of a long-held security
2
Q
Yield
A
Measurement of amount of income an investor will receive as a percentage of the cost of the investment
3
Q
Monetary Limit Used To Reduce Ordinary Income
A
3000
4
Q
How To Avoid Wash Sale Rule
A
Buy put on same security
5
Q
Short-term gain qualification
A
One year or less
6
Q
Long-term gain qualification
A
More than one year
7
Q
Not considered ordinary income for tax purposes
A
Gains gotten from the sale of securities
