Question: $ 7 5 0 , 0 0 0 ; c o s t $ 2 0 0 , 0 0 0 . All closing costs

$750,000;cost$200,000. All closing costs were paid by the buyer. Fred and
Wilma owned and lived in their home for 20 years. How much of the gain is
included in gross income?
Multiple Choice
$550,000
$250,000
None of the choices are correct.
$300,000
$ 7 5 0 , 0 0 0 ; c o s t $ 2 0 0 , 0 0 0 . All

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