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Indicate the answer choice that best completes the statement or answers the question. Options are Xo c. Not capital assets sed by a purchaser when
Indicate the answer choice that best completes the statement or answers the question. Options are Xo c. Not capital assets sed by a purchaser when he/she needs more time to make a purchase decision d. a waste of time and money Enter the appropriate value to answer the question or solve the problem. On March 5, 2020, Ellen inherited a vacation home from her mother with a fair market value of $168,000.00. Since the market was hot, she immediately listed it for sale April and sold it for $178,000.00. In addition, the purchaser paid for the entire years real estate taxes at closing equal to $4,200.00. The amount accrued as of the date of closing was $1,000.00. Ellen had committed to pay the real estate agent $12,000 but due to a dispute the parties agreed to allow Ellen to pay $7,000.00. What is Ellen's amount realized and what is her gain or loss? Enter the appropriate value to answer the question or solve the problem. On March 5, 2020, Ellen inherited a vacation home from her mother with a fair market value of $168,000.00. Since the market was hot, she immediately listed it for sale April and sold it for $178,000.00. In addition, the purchaser paid for the entire years real estate taxes at closing equal to $4,200.00. The amount accrued as of the date of closing was $1,000.00. Ellen had committed to pay the real estate agent $12,000 but due to a dispute the parties agreed to allow Ellen to pay $7,000.00. What is Ellen's amount realized and what is her gain or loss? 1718,000
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