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What is his Long-term Gain

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Question - In 2010, Tim purchased an acre of land as an investment which he paid $220000,plus closing costs of $2200. On Jan 2020, he sold that for $280000, less a $12000 commission. What is his Long-term Gain/Lost?How?

Reference no: EM132472273

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What is his Long-term Gain : Tim purchased an acre of land as an investment which he paid $220000,plus closing costs of $2200. What is his Long-term Gain/Lost?How
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