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Under the First Amendment, there is an absolute freedom to:
Adjusted Basis
The original cost of a property plus improvements and minus depreciation or damages, used to calculate capital gains or losses.
Fair Market Value
The price at which a property would sell under normal conditions in an open and competitive market.
Recognized Gain
This is the portion of gain realized from the sale or exchange of an asset that is subject to taxation under the IRS code.
Sales Commission
A fee or percentage of a sale amount paid to salespeople, typically as an incentive for sales performance.
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