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Taylor Moore buys and sells real estate. On December 31, 20X1, her inventory of property included a tract of undeveloped land for which she had

Taylor Moore buys and sells real estate. On December 31, 20X1, her inventory of property included a tract of undeveloped land for which she had paid $915,000. The fair market value of the land was $1,015,000 at that date. How much income should Moore report for 20X1 in connection with this land

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