Suzy purchased her home in November of 2007 for $395,000 and she bought her lake cabin in
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Question:
Suzy purchased her home in November of 2007 for $395,000 and she bought her lake cabin in October of 2013 for $520,000. In November of 2020, she sold her home for $565,000 and the lake cabin for $608,000. Using the principal residence exemption, what is the minimum taxable capital gain that Suzy will have to include in her income as a direct result of these transactions?
$44,000
$33,000
$66,000
$129,000
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