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If your selling price for a property is $1,500,000, selling expenses accumulating to $200,000, and an adjustable basis of $1,125,000. What is your taxable gain
If your selling price for a property is $1,500,000, selling expenses accumulating to $200,000, and an adjustable basis of $1,125,000. What is your taxable gain or loss?
- $2,825,000
- $575,000
- $2,425,000
- $175,000
Please explain and the step to get it. Thanks
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