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The basis in an installment obligation for personal property that has been repossessed is: a. The paid portion of the contracted payments. b. The amount
The basis in an installment obligation for personal property that has been repossessed is:
a. The paid portion of the contracted payments.
b. The amount of gain reported on the original sale.
c. The unpaid portion of the contracted payments.
d. The adjusted basis of the property reported on the original sale.
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