4 ms·
If someone just sold an asset and are reporting $400k in income, doesn't that mean they received $4 million in cash in the sale?
by jpollock 3y ago
If someone just sold an asset and are reporting $400k in income, doesn't that mean they received $4 million in cash in the sale?
- bombcar 3y agoIncome is not income tax. Selling a property for $4 million is $4m in revenue which could be anything from negative to $4m in income.