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What is Jennifer recognized gain from the sale

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Question - Unfortunately, Jennifer's personal residence stands in the path of the planned building of a new freeway. The government pays her $510,000 for her house. Jennifer originally paid $460,000 for the house. Within the year, Jennifer buys a new house for $420,000. What is Jennifer's recognized gain from the sale of her house to the government?

Reference no: EM132959704

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