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Ficco provided some underlying guidelines in behalf of taxpayers
to adhere to in order to keep off potential issues with the IRS.
He emphasized the position of perception the concept of constituent in asset transactions.

Essentially, taxpayers must realize the prime cost of the asset and answer the gains made upon its sale.
Ficco emphasized that taxpayers should pay prominence to the variation between the acquisition and mark-down prices, as this would determine the taxable gain
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