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In 2021, Bob and Patti wish to sell property c and downsize. Assume they can sell property c for $1.1 million and purchase property D,

In 2021, Bob and Patti wish to sell property c and downsize. Assume they can sell property c for $1.1 million and purchase property D, a $400,000 home in retirement community. What would be the tax consequences of such a sale as currently described. What recomendations do you have for bob and patti as they conteplate this transaction?

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