Business, 11.11.2019 20:31 oseniiyabode123
Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she builds an additional room on the house for $40,000. she sells the property for $560,000 and pays $28,000 in commissions and $4,000 in legal fees in connection with the sale. what is the recognized gain or loss on the sale of the house?
a. $0.
b. $38,000.
c. $70,000.
d. $110,000.
e. none of the above.
Answers: 1
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Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she...
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