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LenKa [72]
3 years ago
6

Homeowner Elizabeth sold her house and had net proceeds of $266,000. Her adjusted basis in the home was $235,000. She immediatel

y bought another house for $198,000. What was Elizabeth's capital gain?
Business
1 answer:
Ira Lisetskai [31]3 years ago
4 0

Answer:

$31,000

Explanation:

Given:

Net Proceeds of old house = $266,000

Adjusted basis amount = $235,000

Cost of new house = $198,000

Computation of Capital Gain:

Capital Gain = Selling Price of particular capital - Adjusted basis amount of capital

Capital gain = $266,000 - $235,000 = $31,000

Therefore, capital gain of Elizabeth from sold her home is $31,000

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2 years ago
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Answer:

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7 0
3 years ago
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2 years ago
On average, LB Inc. receives 138 payments each day with an average value of $42 each. These payments clear the bank in an averag
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