Recognized gain or loss is the term used to describe:
A) a taxpayer's amount of true economic gain or loss when property is disposed.
B) the amount of realized gain or loss taxpayers report on their tax returns.
C) an amount that does not aﬀect the taxpayer's tax liability.
D) none of the above.

Question

Quizplus · Accepted Answer

Recognized gain or loss is the term used to describe the amount of realized gain or loss that taxpayers report on their tax return.

Recognized Gain or Loss Is the Term Used to Describe