X sold her principal residence for 5M when the market value was 6M. The house was purchased 4 years ago at 10M. Out of the proceeds, 4M was used to purchased a new home. What is the CGT on sale?
X sold her principal residence for 5M when the market value was 6M. The house was purchased 4 years ago at 10M. Out of the proceeds, 4M was used to purchased a new home. What is the CGT on sale?
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 32P
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X sold her principal residence for 5M when the market value was 6M. The house was purchased 4 years ago at 10M. Out of the proceeds, 4M was used to purchased a new home. What is the CGT on sale?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT