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Luis sold a plot of land to Evan on july31, 2021. the sale price was $25,000 and Luis basis is the property was $15,000. Evan
Luis sold a plot of land to Evan on july31, 2021. the sale price was $25,000 and Luis basis is the property was $15,000. Evan made one payment of $5,000 in 2021 and agree to pay an additional $5,000 each year, plus interest, for the next four years, Using the installment method, what is Luis taxable gain for 2021?
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