Which of the following statements is false regarding a bargain sale? explain The difference between...

Which of the following statements is false regarding a bargain sale? explain

       The difference between the fair market value of the asset and the
consideration received in exchange for the asset is considered a gift.
       The gift portion of a bargain sale will qualify for the annual exclusion.
       A bargain sale is generally inappropriate if the buyer of the property is a
family member.
       If the property is sold by the seller for more than the seller’s basis in the
property, a taxable gain will result.

Solutions

Expert Solution

The following statement is false

The gift portion of a bargain sale will qualify for the annual exclusion. The reason is the gift portion is taxable and hence cannot be considered as excluded from the annual portion.

jeff jeffy answered 2 years ago

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