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Question 19 of 40. -wrong Johanna purchased her home for $300,000. She made a down payment of $50,000, and secured a recourse loan for the
Question 19 of 40. -wrong Johanna purchased her home for $300,000. She made a down payment of $50,000, and secured a recourse loan for the mortgage balance was $230,000, the fair market value was $320,000, and the adjusted basis was $340,000 (due to a room balance. In 2021, the bank foreclosed on the home because she stopped making payments. At the time of the foreclosure, the addition). What is the amount that Johanna realized from the foreclosure? $230,000 $300,000 $325.000 -$340,000
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