Taylor has owned and occupied her personal residence (adjusted basis of $190,000) for four years. in april 2015, she sells the residence for $300,000 (selling expenses are $20,000). on the same day as the sale, taylor purchases another house for $350,000. because of noisy neighbors, she sells the new house after just 10 months. the selling price is $483,000 (selling expenses are $18,000).
what is taylor’s recognized gain on the sale of the first residence?
what is taylor’s basis for her second residence?
what is taylor’s recognized gain on the sale of the second residence?
assume instead that the sale of the second residence was due to taylor’s job transfer to another state. what is her recognized gain on the sale of the second residence?
Solved
Show answers
More tips
- A Animals and plants Money Tree Care Secrets: How to Keep Your Plant Thriving...
- F Food and Cooking Delight for Gourmets: How to Prepare Liver Pate...
- S Style and Beauty How to braid friendship bracelets?...
- H Health and Medicine Mercury Thermometer Danger: What to do when a thermometer breaks?...
- F Food and Cooking Which Calamari Salad is the Most Delicious?...
- S Society and Politics 10 Tips for Boosting Your Self-Esteem...
- F Food and Cooking The Most Delicious and Simple Fish in Batter Recipe...
- H Health and Medicine What is Autism? Understanding the Basics of This Neurodevelopmental Disorder...
- P Philosophy How to Develop Extrasensory Abilities?...
- S Style and Beauty Don t Sacrifice Your Brows: How to Properly Pluck Stubborn Hairs...
Answers on questions: Business
- B Business Suppose GDP equals $10 trillion, consumption equals $6.5 trillion, the government spends $2 trillion and has a budget deficit of $300 billion. Assume a closed economy. Find the...
- E English Summary of Hunger Games Chapters 1 - 5...
- E English When you use an idea, quotation, or summary from your research and you do not cite the source, it is called authorship editing plagiarism flattery...
- M Mathematics Abag contains 4 brown marbles, 3 green marbles, 2 red marbles, and 1 purple marble. calculate the probability of drawing each color, and write each answer as a fraction, as a percent,...
Ответ: