Question Completion Status: QUESTION 22 George sells his car to Agnes for $8,000 cash and Agnes assuming George's car loan of $9,000. George's adjusted basis in the car at the time of sale was 15000 George's Gain Realized on the sale is: 58.000 $12.000 $17.000 $3,000 None of the above QUESTION 23 AMT adjustments can be positive or negative whereas AMT preferences always are positive. True False QUESTION 24 Smith dies on November 26, 2020. His estate includes a home he purchased decades ago which he left to his son John. The adjusted basis of the home to Smith as of his death was $180,000. The value used in the estate tax return for the house was the Fair Market Value on the date of death of $750,000. Three years later John sells the house for $900,000. As a result John has a gain REALIZED of: Zero $570,000 $900,000 $150,000 None of the above Save AB Click Save and Submit to save and submit. Click Save All Answers to see all answers 16