鲜花( 25) 鸡蛋( 0)
|
Some criteria for business income VS capital gains:
5 q j. F7 D7 c* Q* B, u$ \Primary:
3 n6 j. C( g& [% y* s9 S! @' T! c- WDid the taxpayer intend to use the item as inventory or as a capital asset?/ X6 f) p7 n: b3 J; i2 M
Secondary:
8 K2 X& o; W3 g0 Y( Y1 T1 X. Secondary intent (intention at time of purchase): s% x& @4 z* t9 ~+ D+ K
. Number and frequency of transactions4 Q5 \4 t% B$ a: f& n& y6 n
. Length of period of ownership
& q; L& H& j: y6 e8 Z% [$ t. Relationship to taxpayer's buisness) ~5 I- \. r% ^
5 r* M3 v, {5 ?
It seems to be business income, but there are certain things that can be deducted from business income that can,t be deducted from capital gains, like loan interest, and office expense etc. |
|