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The owner of unimproved land with a basis of $40,000 sold the property for $100,000 in 2017. The seller accepted a note for the entire
The owner of unimproved land with a basis of $40,000 sold the property for $100,000 in 2017. The seller accepted a note for the entire $100,000 sales price. In 2022, when the buyer still owed $10,000, the note was sold for $9,000 cash. How should the disposition of the note be reported on the seller's 2022 return
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