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Kathryn has lived in her house for one year. Her company recently relocated to a city 100 miles away, forcing her to move. She purchased

Kathryn has lived in her house for one year. Her company recently relocated to a city 100 miles away, forcing her to move. She purchased her house a year ago for $400,000, and sold it for $525,000, its current fair market value. What amount of gain will Kathryn recognize for federal tax purposes?

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