Nat is a salesman for a real estate developer. His employer permits him to purchase a lot for $75,000. The employer's adjusted basis for the lot is $45,000, and its normal selling price is $90,000. What is Nat's recognized gain and his basis for the lot?
Recognized gain Basis
A) $0 $ 75,000
B) $0 $ 90,000
C) $15,000 $ 75,000
D) $15,000 $ 90,000
E) $30,000 $105,000

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The Answer of Nat is a salesman for a real estate developer. His employer permits him to purchase a lot for $75,000. The employer's adjusted basis for the lot is $45,000, and its normal selling price is $90,000. What is Nat's recognized gain and his basis for the lot?
Recognized gain Basis
A) $0 $ 75,000
B) $0 $ 90,000
C) $15,000 $ 75,000
D) $15,000 $ 90,000
E) $30,000 $105,000

Nat Is a Salesman for a Real Estate Developer