Akbar acquired two properties three years ago. Property X costs $71000, while property Z costs $87000. Property

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Akbar acquired two properties three years ago. Property X costs $71000, while property Z costs $87000. Property X was sold for $127000 on july 1 2023. the terms of the sales require a down payment of $17000. The next payment of $25000 is due on Jan 1 2024.

Determine the minimum captial gain that will be included in Akbar net income for 2023 & 2024

Posted Date: May 18, 2024 09:15 PM

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Akbar acquired two properties three years ago. Property X costs $71000, while property Z costs $87000. Property

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