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Sally sold land she purchased three months earlier for use in her business. her cost in the land is $80,000. she incurred $5000 in expenses
Sally sold land she purchased three months earlier for use in her business. her cost in the land is $80,000. she incurred $5000 in expenses related to the sale. the buyer paid $80,000 cash and assume Sallys $25,000 mortgage on the property. what is the amount of her gain and where on form 4797 will she report the sale ?
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