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Title: Amber receives a residence ($750,000 FMV, $500,000 adjusted basis) owned for eight years by ... Post by: Sheena Maskell on Jan 9, 2017 Amber receives a residence ($750,000 FMV, $500,000 adjusted basis) owned for eight years by Jonathan, her former spouse, as part of a divorce settlement. Amber and Jonathan had lived in the home for the four years before the divorce. Seven months after the transfer of the residence, Amber sells it for $790,000. What is the amount of Amber's recognized (not realized) gain on the sale of the home?
Title: Re: Amber receives a residence ($750,000 FMV, $500,000 adjusted basis) owned for eight years by ... Post by: MsLippy on Jan 9, 2017 Content hidden
Title: Re: Amber receives a residence ($750,000 FMV, $500,000 adjusted basis) owned for eight years by ... Post by: Sheena Maskell on Mar 20, 2017 Perfect :raised_hands:
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