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Taylor Moore buys and sells real estate. On December 31, 2019, her inventory of property included a tract of undeveloped land for which she had
Taylor Moore buys and sells real estate. On December 31, 2019, her inventory of property included a tract of undeveloped land for which she had paid $910,000. The fair market value of the land was $1,010,000at that date. How much income should Moore report for 2019 in connection with this land?
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