Rationale for Nonrecognition Includes Which of the Following

question 44

Multiple Choice

Rationale for nonrecognition includes which of the following?
I.A refinement of the realization concept, which postpones recognition of appreciation in value until the taxpayer disposes of a property, or its replacement.
II.Under the Substance-over-form doctrine, new property acquired in a transaction is viewed as a continuation of the original investment.
III.The taxpayer lacks wherewithal to pay the tax on a realized gain because the amount realized on the transaction is reinvested in the replacement asset.
​

• A)Only II is correct.
• B)Only I is correct.
• C)II and III are correct.
• D)I, II, and III are correct.
• E)Only III is correct.

---

Definitions:

Live Camera Images

Real-time video or photographic feeds captured by cameras and transmitted over the internet or other networks.

Location-Based Services

Digital services that use geographic data and information to provide users with content or functionalities relevant to their current location.

Twitter-Ready Bites

Concise and impactful messages designed to fit within the character limit of a tweet, making them easily shareable on the platform.

Blog Post

An article or written piece published on a blog, typically reflecting the author's personal views or sharing information on specific topics.