You are here

Basic Federal Income Taxation: Property Transactions: Computation of Gain and Loss Realized

This lesson is best used after studying Federal Income Taxation: Property Transactions, in class. The lesson includes problem sets to work through, allowing you to apply the Code and Regs. to a variety of situations involving the computation of gain and loss realized under Internal Revenue Code §§ 1001, 1011-1016.

Learning Outcomes
On completion of the lesson, the student will be able to:
1. Explain how to compute basis in a purchase where a commission is paid.
2. Explain how to compute gain and loss realized on the sale of property.
3. Explain how to compute basis on property gifted from a decedent.
4. Distinguish basis received in a gratuitous transfer from a decedent and living individual.

Lesson Completion Time

20 minutes
Access Denied
Access to CALI Lessons is restricted to people affiliated with CALI member organizations and those who have purchased individual memberships. You may register or login to run CALI Lessons.

CALI Topics

Lesson Authors

Lesson ID