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can somone assist 17. During 2022, Ebenezer (single) decided to sell his long-time personal residence. He purchased the home in 1990 for $190,000 and spent
can somone assist
17. During 2022, Ebenezer (single) decided to sell his long-time personal residence. He purchased the home in 1990 for $190,000 and spent $20,000 to renovate the basement. He sold the house in May for $500,000. Broker's commissions and other selling expenses amounted to $30,000. Since he was 67 , he decided to rent an apartment. What is his recognized gain? a. $0. b. $10,000. c. $260,000. d. $310,000. 17. During 2022, Ebenezer (single) decided to sell his long-time personal residence. He purchased the home in 1990 for $190,000 and spent $20,000 to renovate the basement. He sold the house in May for $500,000. Broker's commissions and other selling expenses amounted to $30,000. Since he was 67 , he decided to rent an apartment. What is his recognized gain? a. $0. b. $10,000. c. $260,000. d. $310,000
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