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Business, 05.03.2020 22:33 kelseypichla

Carly sold land that she purchased 10 years ago for $3,000. The selling price of the land was $7,000 and Carly paid broker's fees of $420. When she originally purchased the land, she paid $1,000 to clear some of the brush in order to make a walking path down to a nearby lake. In the ten years since the purchase, Carly paid $200 per year to keep the path maintained. Carly's amount realized on the sale was $Input Field 1 of 3 6580 unavailable correct and her tax basis was $Input Field 2 of 3 6000 unavailable incorrect resulting in a capital gain of $Input Field 3 of 3 580 unavailable incorrect for the year.

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Carly sold land that she purchased 10 years ago for $3,000. The selling price of the land was $7,000...
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