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What is the recognized gain on the sale of the house

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Question - Sandra buys a beach house for $299,000 which she uses as her personal vacation home. She builds an additional room on the house for $45,000. She sells the property for $450,000 and pays $22,000 in commissions and $4,000 in legal fees in connection with the sale. What is the recognized gain on the sale of the house?

Reference no: EM132058093

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