Question: Exercise 1 5 - 2 3 ( LO . 4 ) Constanza, who is single, sells her current personal residence ( adjusted basis of $

Exercise 15-23(LO.4) Constanza, who is single, sells her current personal residence

Exercise 15-23(LO.4)
Constanza, who is single, sells her current personal residence (adjusted basis of $165,000) for $450,000. She has owned and lived in the house for 30 years. Her selling expenses are $22,500.
What is Constanza's realized and recognized gain?
Constanza's realized gain is $ and her recognized gain would be $
(adjusted basis of $165,000) for $450,000. She has owned and lived in

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