Laurie bought a home in 2015 for $65,000. On November 2, 2018, she sells it for $114,000.

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Laurie bought a home in 2015 for $65,000. On November 2, 2018, she sells it for $114,000. Laurie uses the proceeds to purchase a duplex costing $200,000. She uses one unit in the duplex as her principal residence.

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Concepts In Federal Taxation

ISBN: 9781337702621

26th Edition

Authors: Kevin E. Murphy, Mark Higgins

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Question Posted: Sep 16, 2023 03:30 AM

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Laurie bought a home in 2015 for $65,000. On November 2, 2018, she sells it for $114,000.

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The issue is the amount of gain recognized on the sale of the re...View the full answer

Concepts In Federal Taxation

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