Write a 750 word essay regarding the basis of acquired property. Explain how the basis of acquired property affects the tax liability. Cite at least 5 external sources which support the information you provided and points made. Please implement APA formatting guidelines. This includes a cover page, abstract, and a reference page (these items are not included in the 750 words).
|Grading Criteria Assignments||Maximum Points|
|Meets or exceeds established assignment criteria||40|
|Demonstrates an understanding of lesson concepts||20|
|Clearly presents well-reasoned ideas and concepts||30|
|Uses proper mechanics, punctuation, sentence structure, and spelling||10|