. When persons sell land for more than they paid for it A. there is no federal tax applicable to the gain. B. the gain is taxed by all state governments. C. Both A and B. D. Neither A nor B.   . Which...

. When persons sell land for more than they paid for it

A. there is no federal tax applicable to the gain.

B. the gain is taxed by all state governments.

C. Both A and B.

D. Neither A nor B.

. Which of the following would NOT be considered an improvement to a home in determining its cost basis?

A. Repairs to a leaky roof.

B. Construction of a new fence.

C. Repairs done as part of an extensive remodeling project.

D. None of the above.