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What amount is included in the sibling net income

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Problem 1: H sold land to his sibling for $200,000. The land is used for farming and at the time of the sale had a market value of $230,000. Two years after the sale the sibling sold the land for $250,000. What amount is included in the sibling's net income for tax purposes from the sale of the land?

Reference no: EM132763682

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