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What is the minimum amount to be reported in net income

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Question - M acquired a home in 2013 for $300,000 and a cottage in 2017 for $200,000. In 2020 M sold the home for $700,000 and the cottage for $500,000. What is the minimum amount to be reported in net income for tax purposes in 2020?

Reference no: EM132750253

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