LO$\mathrm{.}1$LO$\mathrm{.}1$State and explain the computation of realized gain or loss on property dispositions. Kareem bought a rental house in March $2014$ for $$300,000,$ of which $$50,000$ is allocated to the land and $$250,000$ to the building.

Early in $2016,$ he had a tennis court built in the backyard at a cost of $$7,500.$ Kareem has deducted $$30,900$ for depreciation

on the house and $$1,300$ for depreciation on the court. In January $2019,$ he sells the house and tennis court for $$330,000$ cash.

What is Kareem$$s realized gain or loss?

If an original mortgage of $$80,000$ is still outstanding and the buyer assumes the mortgage in addition to the cash payment,

what is Kareem$$s realized gain or loss?

If the buyer takes the property subject to the $$80,000$ mortgage rather than assuming it$,$ what is Kareem$$s realized gain or

loss?

Deducted $$50,500$ office$-$in$-$home expenses, which included $$4,500$ in depreciation. $($Refer to text Section $9-6$a$).$

Deducted a casualty loss in $2015$ for residential trees destroyed by a hurricane $($her county was declared a Federal disaster

area$).$ The total loss was $$19,000($after the $$100$ floor and the $10\%-$of$-$AGI floor$),$ and Anne$$s insurance company reimbursed

her for $$13,500.($Refer to text Section $7-3.)$

Paid street paving assessment of $$7,000$ and added sidewalks for $$8,000.$

Installed an elevator for medical reasons. The total cost was $$20,000,$ and Anne deducted $$13,000$ as medical expenses. $($Refer

to text Section $10-1$b$.)$

What is Anne$$s realized gain?