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26. What is the general formula for calculating the gain or loss realized on the sale or other disposition of property? Include in your answer

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26. What is the general formula for calculating the gain or loss realized on the sale or other disposition of property? Include in your answer a discussion of how to calculate each element of the formula for calculating gain or loss realized, assuming that the property is purchased at original cost. Also, discuss common circumstances where the basis of property is "adjusted" over time

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