What amount must brandi include in her income in 2023

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Question: Alice owned a Rolex watch for which she paid $5,000 in 1990. The watch became popular among collectors and was worth $32,000 in 2020. Alice died in 2020, bequeathing the watch to her daughter Brandi. Needing some ready cash, Brandi sold the watch for $35,000 in 2023. What amount must Brandi include in her income in 2023?

Reference no: EM133542224

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