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All of the following transactions are exempt from rules regarding imputed interest with the exception of A) taxpayer sells land for $160,000 with payment due
All of the following transactions are exempt from rules regarding imputed interest with the exception of A) taxpayer sells land for $160,000 with payment due in 4 years and no stated interest B) taxpayer purchases newly issued bond for $850 (face value of $1,000). C) taxpayer sells his grand piano for $2,750 with payment due in one year and no stated interest. D) taxpayer purchases a sailboat costing $2,250 for weekend boating trips; the full price payable in three months and no stated interest.
All of the following transactions are exempt from rules regarding imputed interest with the exception of
A) taxpayer sells land for $160,000 with payment due in 4 years and no stated interest
B) taxpayer purchases newly issued bond for $850 (face value of $1,000).
C) taxpayer sells his grand piano for $2,750 with payment due in one year and no stated interest.
D) taxpayer purchases a sailboat costing $2,250 for weekend boating trips; the full price payable in three months and no stated interest.
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