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Katie is single and has sold a property that she purchased 5 months ago. Katie did not make any renovations or updates to the property

Katie is single and has sold a property that she purchased 5 months ago. Katie did not make any renovations or updates to the property and just listed and sold it. Purchase price: $ 140,000 Sold Price: $ 685,000 What will Katie need to prepare for when she files her taxes?

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