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03-01-2023
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n march of the current year, susan sold her principal residence for a total price of $450,000. susan purchased the house 15 years ago for $80,000. she has not made any improvements to the house. real estate commissions of $27,500 resulted from the sale. sixteen months later, susan bought a new residence for $225,000. what amount of gain, if any, must be recognized on the sale of susan's residence? a) $0 b) $92,500 c) $120,000 d) $342,500

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