How much is brooke gain or loss on the sale

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Question: Brooke inherited a mountain cottage from her grandmother. The cottage was worth $66,000 at the time and had a basis to the grandmother of $44,000. Estate taxes of $13,200 were paid. After one summer, it was clear that Brooke would be unable to use the cottage enough to justify keeping it, and she sold it for $60,000. How much is Brooke's gain or loss on the sale?

Reference no: EM131948774

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