The Amount Realized by Matt on the Sale of Property

question 8

Multiple Choice

The amount realized by Matt on the sale of property to Caitlin includes all of the following with the exception of

• A)cash received by Matt.
• B)mortgage on the property that is assumed by Caitlin.
• C)mortgage on the property paid off by Matt prior to the sale.
• D)the FMV of any other property received by Matt in the transaction.

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Definitions:

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