If an option to purchase a leased property is not fulfilled by the options end date, what
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Question:
If an option to purchase a leased property is not fulfilled by the options end date, what are the tax impacts to the seller?
The seller must report the option and rent payments as a loss.
The seller must report the option payments as an addition to the basis.
The seller must report the option payments received as ordinary income
The seller must report the rent payments as an addition to the basis.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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