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Business, 30.11.2019 04:31 samy6570

Dexter owns a large tract of land and subdivides it for sale. assume that dexter meets all of the requirements of § 1237 and during the tax year sells the first eight lots to eight different buyers for $113,000 each. dexter's basis in each lot sold is $79,100, and he incurs total selling expenses of $4,520 on each sale. what is the amount of dexter’s capital gain and ordinary income?

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Dexter owns a large tract of land and subdivides it for sale. assume that dexter meets all of the re...
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