Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she builds an additional room o

Question

3 years ago

11

Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she builds an additional room o

n the house for $40,000. she sells the property for $560,000 and pays $28,000 in commissions and $14,000 in legal fees in connection with the sale. what is the recognized gain or loss on the sale of the house?

Business

1 answer:

CaHeK987 [17] · Answer 1 · 2022-03-27T02:51:38+03:00

<span>Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she builds an additional room on the house for $40,000. she sells the property for $560,000 and pays $28,000 in commissions and $14,000 in legal fees in connection with the sale. what is the recognized gain or loss on the sale of the house? = </span>She gained $28,000