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On May 1 of this year, Ingrid sold her personal residence for $350,000. Commissions on the sale were $20,000. Ingrid's basis in her old home

On May 1 of this year, Ingrid sold her personal residence for $350,000. Commissions on the sale were $20,000. Ingrid's basis in her old home was $170,000.

What is Ingrids realized gain?

What is Ingrids recognized gain?

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