J was the all-time top salesperson for Third Millennium Realty. The following two questions relate to the following facts. A has neither gross income nor loss. Later the same year, it was discovered that yellowacre was a toxic waste dumb. L has no other assets.
L has neither gross income nor loss.
Two months thereafter, H dies. Her life expectancy is twenty years. W elects the latter option. Unpaid installments accrue interest at the applicable federal rate. He tells B that he win consider the offer.