The Amount Realized Does Not Include Any Amount Received by the Taxpayer

question 54

True/False

The amount realized does not include any amount received by the taxpayer that is designated as severance damages by both the government and the taxpayer.

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Definitions:

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a government or corporation (bond), or rights to ownership as represented by an option.