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The Tax Man Cometh

The Tax Man Cometh

"Now we talk taxes," Miyagi told Eddie. "What do you know about individual income tax fundamentals, like capital gains and tax basis, the alternative minimum tax (AMT), corporate, trust, and estate taxes, and gift taxes?"

"Let's seeā€¦an investment's tax basis, also known as an investment's cost basis, is its purchase price, including the commission paid and any other expenses. It is used to determine capital gains and capital losses for tax purposes and can be determined by several m...

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