Publication 544, Sales and Other Dispositions of Assets
You dispose of property when any of the following occurs.
- You sell property.
- You exchange property for other property.
- Your property is condemned or disposed of under threat of condemnation.
- Your property is repossessed.
- You abandon property.
- You give property away.
This publication explains the tax rules that apply when you dispose of property. It discusses the following topics.
- How to figure a gain or loss.
- Whether your gain or loss is ordinary or capital.
- How to treat your gain or loss when you dispose of business property.
- How to report a gain or loss.
This publication also explains whether your gain is taxable or your loss is deductible.
Other Items You May Find Useful:
Comment on Publication 544
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