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From the following information, what is the taxable gain? Timmy, a single taxpayer purchased a house 17 months ago for $475,000, Timmy sells his house

From the following information, what is the taxable gain? Timmy, a single taxpayer purchased a house 17 months ago for $475,000, Timmy sells his house due to unforeseen circumstances for $525.000 after living in it for a full 19 months

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