Question

Artistic compositions held by a taxpayer whose efforts created the property a) Yes b) No

Answer 1

No, artistic compositions held by a taxpayer whose efforts created the property are not considered taxable.

Step-by-step explanation:

No, artistic compositions held by a taxpayer whose efforts created the property are not considered taxable. Tax laws usually focus on tangible assets, such as houses, lands, and other physical properties. Artistic compositions, such as paintings, sculptures, or music compositions, are considered intangible assets and are not typically subject to taxation.