What do you think would happen if the increase were required

Reference no: EM131911305

Problem

Many individuals have property that increases in value over time. Examples are homes, stocks and bonds, and artwork. Explain why the increase in these items, from year to year, is not considered gross income.

What do you think would happen if these increases were required to be included in gross income? (Consider actions of taxpayers and administrative issues the IRS might face.)

Reference no: EM131911305

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