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Abdalla, who is single, sells her principal residence, which she has owned and occupied for eight years, for $375,000. The adjusted basis is $64,000 and
Abdalla, who is single, sells her principal residence, which she has owned and occupied for eight years, for $375,000. The adjusted basis is $64,000 and selling expenses are $22,000. She purchases another principal residence three months later for $200,000. Her recognized gain is $39,000 and her basis for the new principal residence is $200,000.
a- True
b- False
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