TCP Area IV: Property Transactions
Basis, realized vs recognized gain/loss, capital vs ordinary character, depreciation recapture, §1231 netting, like-kind exchanges, and other nonrecognition transactions.
AICPA Blueprint: Area IV (10–20%)
What you'll study
Basis of property
Gain/loss & holding period
Capital gains & netting
§1231 assets
Depreciation recapture
Like-kind exchanges
Installment sales
Recommended study flow
- 1Read the Area IV notes end to end.
- 2Practice the 30 original MCQs, then review the explanations.
- 3Review missed questions, then ask in Discord or book tutoring on anything still fuzzy.