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Constanza, who is single, sells her current personal residence (adjusted basis of $199,500) for $558,600. She has owned and lived in the house for 30
Constanza, who is single, sells her current personal residence (adjusted basis of $199,500) for $558,600. She has owned and lived in the house for 30 years. Her selling expenses are $27,930. What is Constanza's realized and recognized gain? Constanza's realized gain is $fill in the blank 1 and her recognized gain would be $fill in the blank 2 .
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