4. In which of the following accounts should Wiley hold the investments purchased with her new money?
A is correct because, in general, the portion of a taxable asset owner’s assets that have higher tax rates, such as taxable bonds and high-turnover trading strategies, should be located in tax-exempt and tax-deferred accounts to the extent possible.
However, one important exception to this general rule regarding asset location applies to assets held for near-term liquidity needs. Because Wiley’s tax-exempt and tax-deferred accounts are not immediately accessible without penalty, the short-term corporate bond allocation may be held in the taxable account as its role is to fund near-term consumption requirements – for Wiley, she plans to withdraw the funds within a year to buy a new house.
该怎么理解这道题目解析的逻辑？
