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Amna owns undeveloped land with an adjusted basis of 100.000 . She sells the property to George for 130000. a. What is Amna s realized

Amna owns undeveloped land with an adjusted basis of 100.000 . She sells the property to George for 130000. a. What is Amna s realized and recognized gain? b. To what IRC section does the gain on the property apply? c. If the land is used in a trade or business , to what IRC section does the gain on the property apply?

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