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Mathematics, 25.06.2021 04:00 Cjdjejfjiv8568

Julie sold her vacation home during the tax year. Julie purchased the property in 2007 for $236,500 and sold the property for $429,000. Julie paid $5,250 to add a deck onto the home
in 2010. In 2012, a flood caused $25,000 of damage, which she paid out-of-pocket to restore
the property. Julie did not have flood insurance and was able to claim a $4,100 casualty loss
on her itemized deductions that year. What amount of gain from the sale would be reported
on her return?

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Julie sold her vacation home during the tax year. Julie purchased the property in 2007 for $236,500...
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