9. If a property's market value becomes 0, the owner has no right to sell it at a value > 0 since this will be taxable at a very large rate. 10. Any net income obtained from selling a depreciated property according to its last market value is considered a capital gain.

9. If a property's market value becomes 0, the owner has no right to sell it at a value > 0 since this will be taxable at a very large rate. 10. Any net income obtained from selling a depreciated property according to its last market value is considered a capital gain.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter14: Property Transactions: Determination Of Gain Or Loss And Basis Considerations

Section: Chapter Questions

Problem 4DQ

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Question

9. If a property's market value becomes 0, the owner has no right to sell it at a value > 0 since this will be taxable at a
very large rate.
10. Any net income obtained from selling a depreciated property according to its last market value is considered a
capital gain.

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