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Carl Carter had purchased a residence on January 12, 2018 for $165,000. and then sold it on April 12, 2019 for $440,000. because of severe
- Carl Carter had purchased a residence on January 12, 2018 for $165,000. and then sold it on April 12, 2019 for $440,000. because of severe health problems.
- ) How much gain can Carl exclude and how much must be recognized?
- ) If Carl had sold the house for $300,000., how much could Carl exclude and how much must be recognized?
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