Laurie bought a home in 2017 for $65,000. On November 2, 2020, she sells it for $114,000.

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Laurie bought a home in 2017 for $65,000. On November 2, 2020, 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 2021

ISBN: 9780357141212

28th Edition

Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg

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Question Posted: Nov 18, 2020 01:03 AM

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Laurie bought a home in 2017 for $65,000. On November 2, 2020, she sells it for $114,000.

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

Concepts In Federal Taxation 2021

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