Gain or loss is realized any time there is a sale or other disposition of property.

Name: Gain or loss is realized any time there is a sale or other disposition of property.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Gain or loss is realized when property is sold or disposed of in other ways, such as by gift or exchange. The difference between the amount realized from the disposition and the adjusted basis of the property will result in a gain or loss.

Gain or Loss Is Realized Any Time There Is a Sale