Principal Residence Jane Herbert acquired a house in 2019 for $300,000. In 2021 she acquired a cottage for $150,000. She lived in the house
Principal Residence Jane Herbert acquired a house in 2019 for $300,000. In 2021 she acquired a cottage for $150,000. She lived in the house in the winter and in the cottage in the summer. In 2023 she sold both properties. She received $400,000 for the house and $250,000 for the cottage. Instructions: Enter your final answers as amounts, with NO dollar signs, NO commas, NO decimals. ROUND your final answers to the nearest dollar. Enter in POSITIVE NUMBERS only. Question 5 (10 points) Listen Determine the minimum taxable capital gain to be reported by Jane on the sale of the two properties. Previous Page Next Page Page 4 of 4
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