What is gain or loss on the sale of the beach house

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Charlie inherited a house at the beach from his grandmother. She had purchased it in the 1950’s for $50,000. At the date of her death (04/05/15), it was worth $5,000,000. Charlie sold it on 06/03/15 for $5,250,000. What is Charlie’s gain or loss on the sale of the beach house?

Reference no: EM131319827

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What is gain or loss on the sale of the beach house : Charlie inherited a house at the beach from his grandmother. She had purchased it in the 1950’s for $50,000. At the date of her death (04/05/15), it was worth $5,000,000. Charlie sold it on 06/03/15 for $5,250,000. What is Charlie’s gain or loss on t..

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