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JulijaS [17]
3 years ago
5

Anya owns land with an adjusted basis of $305,000, subject to a mortgage of $175,000. Anya sells her land subject to the mortgag

e for $325,000 in cash, and a note for $300,000. What is Anya's amount realized on this sale
Business
1 answer:
Readme [11.4K]3 years ago
8 0

Answer: $800,000

Explanation:

Alice's realized amount from the sale is a sum of all the amounts that the seller gets it for as well as any mortgages assumed.

Alice therefore realized:

= Mortgage assumed by seller + Cash + Note

= 175,000 + 325,000 + 300,000

= $800,000

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