Which of the following is not used in the calculation of the amount realized:
A)Cash.
B)Adjusted basis.
C)Fair market value of other property received.
D)Buyer's assumption of liabilities.
E)All of the choices are used.

Question

Quizplus · Accepted Answer

Adjusted basis is used in the calculation of gain or loss, but it is not used in the calculation of the amount realized. The amount realized is generally the total amount received by the seller in a sale or exchange, including cash, the fair market value of any property received, and any liabilities assumed by the buyer.

Which of the Following Is Not Used in the Calculation