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What is the taxable gain

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Reference no: EM133105633

Question - This year, Leron and Sheena sold their home for $750,000 after all selling costs. Under the following scenarios, how much taxable gain does the home sale generate for Leron and Sheena assuming that the couple is married and files jointly. The home was purchased by the couple one year ago for $600,000 and lived in the home until it sold. What is the taxable gain?

Reference no: EM133105633

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