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 these are used.

Question

Quizplus · Accepted Answer

Adjusted basis is used in the calculation of gain or loss, but not in the calculation of the amount realized. The amount realized includes all cash, property, and liabilities received in exchange for the property being sold.

Which of the Following Is Not Used in the Calculation