Property for purposes of calculating gain would be

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Reference no: EM131514761

Assume the same facts as in the previous question except that Ragan and Megan live in a community property state and acquired the home during their marriage. Ragan’s basis in the property for purposes of calculating gain would be:

A. $500,000

B. $250,000

C. $375,000

D. $125,000

Reference no: EM131514761

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