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    Individual Taxation
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    Exam 14: Property Transactions: Basis Determination and Recognition of Gain or Loss
  5. Question
    If an Installment Sale Agreement Involving a $15,000 Note Calls
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If an Installment Sale Agreement Involving a $15,000 Note Calls

Question 30

Question 30

True/False

If an installment sale agreement involving a $15,000 note calls for no interest, interest must be imputed both to the buyer as interest expense and to the seller as interest income.

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