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What would be the amount of the taxable capital gain

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Problem - In 2019, Mrs. Holmes bought her only house for $180,000. In January 2020, she sold the house for $500,000. She paid $30,000 in sales commissions and legal fees on the sale. What would be the amount of the taxable capital gain or income Mrs. Holmes would report in 2020?

Reference no: EM132873754

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