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write a research memo Mike and Mary are married filing jointly and purchased a house in Washington on May 1, 2006 for $300,000 and lived

write a research memo

Mike and Mary are married filing jointly and purchased a house in Washington on May 1, 2006 for $300,000 and lived in it until Mike got a new job in New York on July 1, 2016. They sold the house on December 31, 2020 for $700,000. It resulted in an economic gain of $400,000

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