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In 2020, Jon sold a piece of land held for investment. The sales price was $250,000 and Jon paid 2% of the sales price in
In 2020, Jon sold a piece of land held for investment. The sales price was $250,000 and Jon paid 2% of the sales price in brokers fees and also incurred $1,700 of other selling costs. Jon's tax basis in the land was $80,000. What is Jon'samount realizedon the sale?
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