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In 2019, Mrs. Holmes bought her only house for $180,000. In January 2020, she sold the house for $500,000. She paid $30,000 in sales commissions
In 2019, Mrs. Holmes bought her only house for $180,000. In January 2020, she sold the house for $500,000. She paid $30,000 in sales commissions and legal fees on the sale. What would be the amount of the taxable capital gain or income Mrs. Holmes would report in 2020
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