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ACC 343, Chapter 14

Across
A _____ _____ occurs when a taxpayer sells securities at a loss and within 30 days either side of the sale date buys the same securities
An inherited capital asset is deemed to have been held _____ _____.
The basis of inherited installment notes on which there is deferred gain is the adjusted basis the _____ had in the installment notes.
Both the decedent's share and the surviving spouse's share of _____ _____ receive a basis equal to fair market value on the date of the decedent's death
The loss on a wash sale ____ to the adjusted basis of the securities bought that caused the wash sale.
Tax term for the net sales price
The _____ _____ for property acquired by gift begins on the date the donor acquired the property if the gain basis rule applies
Excess of the amount realized over the adjusted basis of property sold or exchanged.
Down
The legal right to use another person's property for a special purpose
The original basis of inherited property is generally its fair market value on the date of the decedent's _____
Excess of the adjusted basis of property sold or exchanged over its amount realized
A realized loss on a sale to certain related parties is ____ _____
Original basis of property plus capital improvements and minus accumulated depreciation
The price a willing buyer would pay a willing seller for property