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8. Latrice, sold her principal residence for a sale price of $500,000 and had $50,000 in selling expenses. She bought the house 11 years ago
8. Latrice, sold her principal residence for a sale price of $500,000 and had $50,000 in selling expenses. She bought the house 11 years ago and occupied it until it was sold. On the date of sale, the house had a cost basis of $200,000. Within 10 months, she purchased a new house for $700,000. What amount of gain should Decker recognize from the sale of the residence
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