Doreen sold her main home for $400,000. She paid commissions totaling $20,000. Doreen, who is single, purchased the home 15 years ago for $110,000. Over the years, she has spent $13,000 on improvements and $22,000 on repairs to the home. Calculate Doreen's recognized gain.

Answer rating: 100% (QA)

To calculate Doreens recognized gain from the sale of her home we n... View the full answer