Ficco provided some fundamental guidelines after taxpayers to adhere to in pattern to steer clear of the right stuff issues with the IRS. He emphasized the importance of covenant the concept of basis in asset transactions. Essentially, taxpayers requisite accept the sign cost of the asset and accede the gains made upon its sale. Ficco emphasized that taxpayers should transmit prominence to the variation between the acquisition and trading prices, as this would determine the taxable gain
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