D 12-4 58. On February 1, 2022, Mariah buys a new residence for $150,000. Three months later, she sells her old residence for $310,000 (adjusted basis of $120,000). Selling expenses totaled $21,000. She lived in the old house for 15 years. a. What are Mariah's realized and recognized gain or loss? What is her basis in the new residence? b.

58. On February 1, 2022, Mariah buys a new residence for $150,000. Three months later, she sells her old residence for $310,000 (adjusted basis of $120,000 ). Selling expenses totaled $21,000. She lived in the old house for 15 years. a. What are Mariah's realized and recognized gain or loss? b. What is her basis in the new residence