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Augustus1 Augustus1
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7 years ago
Charles and Camella married in 2010 and purchased a new home together. Each had owned and lived in separate residences for the past 5 years. Charles' adjusted basis in his residence was $200,000; Camella's adjusted basis in her residence was $120,000. In late 2010, Charles sells his residence for $500,000 while Camella sells her residence for $190,000. What is the total gain to be excluded from these transactions in 2010?
A) $-0-
B) $250,000
C) $320,000
D) $370,000
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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7 years ago
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Augustus1 Author
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7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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