Gains Realized from Property Transactions Are Included in Gross Income

question 124

True/False

Gains realized from property transactions are included in gross income unless a nonrecognition rule applies.

---

Definitions:

Expulsion Stage

The final stage of childbirth in which the baby is delivered from the womb through the birth canal to the outside world.

Fetus

A developing mammal or vertebrate after the embryonic stage and before birth, during which significant growth and organ development occur.

Germ Layer

One of the three primary layers of cells (ectoderm, mesoderm, and endoderm) in the early embryo from which all tissues and organs develop.

Chorion

The outermost fetal membrane in mammals, including humans, contributing to the formation of the placenta.