Kong originally sold his home for $96,000. at that time, his adjusted kong originally sold his home
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Kong originally sold his home for $96,000. at that time, his adjusted kong originally sold his home for 96000. at that time his adjusted basis in the home was 99000. five years later, he repossessed the home when the balance of the note was 91000. he resold it within one year for 105000. original sale expenses were 1250, and resale expenses were 1550. repossession costs were 3200. he incurred 1000 for improvements prior to the resale. What is kongs recompiled gain?
Related Book For
South Western Federal Taxation 2017 Corporations, Partnerships, Estates And Trusts
ISBN: 9781305874336
40th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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