What is charles taxable gain

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Reference no: EM133905205

Problem

In 2000, Tariq and Charles bought commercial real estate at a cost of $20,000 and took ownership as tenants in common. Tariq died 3 years ago and left his interest to Charles. The property was valued at $100,000 when Tariq died. Get the instant assignment help. Charles sold the property this year for $154,888. What is Charles' taxable gain?

Reference no: EM133905205

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