Question: During 2 0 2 3 , Jack and LaTonya, a married couple, decided to sell their residence. The residence has a basis of $ 1

During 2023, Jack and LaTonya, a married couple, decided to sell their residence. The residence has a basis of $162,000 and has been owned $395,000 with broker's commissions and other selling expenses totaling $24,000. They purchased a new residence in June for $400,000. Wha
a. $0
b. $162,000
During 2 0 2 3 , Jack and LaTonya, a married

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