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Larry Gaines age 42 age sells hid personal residence on November 12,2017, foe $279.600. He live in the house for 7 year years. The expenses
Larry Gaines age 42 age sells hid personal residence on November 12,2017, foe $279.600. He live in the house for 7 year years. The expenses of the sales are 19,572, and he has made capital improvements of 8,388. Larry"s cost basic in his residence is 162,168. November 30, 2017 , purchases and and occupies a new residence at a cost of 349,500. Calculate Larry realize gain, recognized gain, and adjusted basis of his new residence?
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