WebAug 19, 2024 · What is double taxation? Just as the term implies, double taxation is when taxes are paid twice on the same income. There are three scenarios where the law of … WebMar 14, 2024 · Instead of paying tax on ordinary income of $10,000 and capital gain income of $2,000, you would mistakenly pay tax on $10,000 of ordinary income and $12,000 of capital gain. You would be paying tax …
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