The tax that a taxpayer (who is not a home builder or developer) pays on the profits he makes from selling real estate is called:
A) regular income
B) capital gains
C) special income.
D) tax credits

Question

Quizplus · Accepted Answer

The tax paid on profits from selling real estate by someone who is not a home builder or developer is typically considered a capital gain, which is taxed under capital gains tax rules.

The Tax That a Taxpayer (Who Is Not a Home