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This year, Barney and Betty sold their home (sales price $510,000; cost $140,000). All closing costs were paid by the buyer. Barney and Betty owned
This year, Barney and Betty sold their home (sales price $510,000; cost $140,000). All closing costs were paid by the buyer. Barney and Betty owned and lived in their home for 3 years. Assuming no unusual or hardship circumstances apply, how much of the gain is included in gross income? $370,000 $180,000 $170.000 $0 $30,000
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