Meredith was transferred from Detroit to Dallas. Meredith sold a Detroit residence (adjusted basis of $180,000) for a realized loss of $40,000 and purchased a new residence in Dallas for $225,000. What is Meredith's recognized gain or loss on the sale of the Detroit residence and the basis for the residence in Dallas? a. $0; $220,000 b. $(40,000); $225,000 c. $(40,000); $180,000 d. $(40,000); $220,000 e. $0; $225,000

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