The Following Is True If Land Is Sold Except

question 81

Multiple Choice

The following is true if land is sold except:

• A)The gain on the sale of land used in a business is recorded on Form 4797.
• B)The gain on the sale of land used in a business is recorded on Schedule D.
• C)The gain on the sale of land used in a business is ordinary income and can appear on a Schedule C if it is owned by a sole proprietor.
• D)The gain on the sale of land appears on the Form 1040 under the heading "other income".

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Definitions:

Cultural Influence

The impact that the beliefs, values, practices, and social norms of a society or group have on the behavior and attitudes of its members.

Mental Institution

A facility for the treatment, care, and rehabilitation of individuals with mental health issues or disorders.

Dissociative Identity Disorder

A mental disorder characterized by the presence of two or more distinct personality states or identities within a single individual.

Biopsychosocial

An approach to health and illness that considers biological, psychological, and social factors in understanding and treating disorders.