The definition of "unrealized receivable" does not include the
A)right to payment for services performed by a cash-basis taxpayer.
B)recapture potential on Sec. 1245 property.
C)recapture potential on Sec. 1250 property.
D)right to payment for services performed by an accrual-basis taxpayer.

Question

Quizplus · Accepted Answer

Unrealized receivables include rights to payment for services performed by a cash-basis taxpayer but not by an accrual-basis taxpayer, as the latter would have already recognized the income.

The Definition of "Unrealized Receivable" Does Not Include the