The Amount Realized by Matt on the Sale of Property

question 1266

Multiple Choice

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

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

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