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Fairy Tale Taxes

The tax advisor had just read the story of Cinderella to his four-year-old daughter for the first time.

The little girl was fascinated by the story, especially the part where the pumpkin turns into a golden coach.

Suddenly she piped up, "Daddy, when the pumpkin turned into a golden coach, would that be classed as income or a long-term capital gain?"

This news arrived on: 06/10/2008

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