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Business, 19.12.2021 21:50 24lbriscoe

Alicia buys a beach house for $325,000 which she uses as her vacation home (not her primary residence). She builds an additional room onto the house for $45,000. She later sells the property for $450,000 and pays $26,000 in commissions in connection with the sale. What is the recognized gain or loss on the sale of the house

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