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How much will Pierre have

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Question - Pierre originally purchased his house in 1993 for $125,000. He sold it in January 2020 for $750,000. However, Pierre was not able to designate it as his principal residence from 2009 through 2015 (inclusive), because he claimed the cottage as his principal residence during that time. How much will Pierre have to include in his taxable income as a result of this transaction?

Reference no: EM133092574

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