Net sale proceeds less adjusted basis of the property determines which of the following?

Question

Quizplus · Accepted Answer

The net sale proceeds less adjusted basis of the property determines the capital gains or losses. This is because capital gain or loss is the difference between the adjusted basis of the property and the net sale proceeds. It is calculated by subtracting the adjusted basis of the property from the net sale proceeds, and if the result is positive, it represents a capital gain, while if the result is negative, it represents a capital loss.

Net Sale Proceeds Less Adjusted Basis of the Property Determines