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Author Question: Frank, a single person age 52, sold his home this year. He had lived in the house for 10 years. He ... (Read 77 times)

anjilletteb

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Frank, a single person age 52, sold his home this year.  He had lived in the house for 10 years. 
He signed a contract on March 4 to sell his home and closed the sale on May 3.



Based on these facts, what is the amount of his recognized gain?
◦ $0
◦ $39,800
◦ $40,000
◦ $52,000


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Marked as best answer by anjilletteb on Sep 13, 2020

nanny

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anjilletteb

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


yeungji

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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