What are the gains and losses that should be reported?

The gains attained and the losses incurred through the sales or any other way of disposition of property used for a charitable purpose, production of income, or any other type of investment should be reported. 

The following types of gains and losses are not required to be reported. 

• The gains and lossed that occur from any taxable income that is unrelated to the foundation's business 
• The gains and losses from a property that is used for one year or more to extend the organization's tax-exempt purpose and immediately exchanged for a similar property once that purpose is served.

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