Question: Deferred Gain: Realized gain gnized gain in current year recognized in future years Tax Basis in the Note alance at beginning of year Less: Note

Deferred Gain: Realized gain gnized gain in current year recognized in

Deferred Gain: Realized gain gnized gain in current year recognized in future years Tax Basis in the Note alance at beginning of year Less: Note payment e of the note at end of year of year tax basis in the note of year tax basis in the

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.