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In computing the gain or loss from a sale or trade of property, which statement below best describes the amount you realize?
A. The value of any services you received.
B. The fair market value of the property on the transaction date.
C. The money you actually receive.
D. Everything you receive for the property.

Respuesta :

ayfat23

In computing the gain or loss from a sale or trade of property, the statement below that best describes the amount you realize is D. Everything you receive for the property.

How are the earnings and losses from property sales calculated?

The adjusted basis of a property is typically subtracted from the amount of cash and other assets realized on its sale or other disposition in order to calculate the gain (loss) on such sales or other dispositions.

Take the difference in the total consideration received and deduct the cost basis to arrive at the realized gain or loss. Positive differences represent realized gains. A realized loss has been realized if the difference is negative.

Therefore, option D is correct.

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