_____ 2A Gain Must Be Recognized Unless Some Tax Provision Allows

question 41

True/False

_____ 2.A gain must be recognized unless some tax provision allows nonrecognition or deferral.

---

Definitions:

Administrative Searches

Searches conducted by officials (e.g., health inspectors, safety regulators) as part of their regulatory duties without the need for a warrant.

Free-Exercise Clause

A clause in the First Amendment of the U.S. Constitution which states that government (state and federal) cannot make a law "prohibiting the free exercise" of religion; has been interpreted as including absolute freedom to believe and freedom to act, which may face state restriction.

First Amendment

A core provision of the United States Constitution that protects freedoms concerning religion, expression, assembly, and the right to petition.

Right to Privacy

the right to be free from intrusion or interference in one's personal life and affairs.