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Business, 19.08.2020 08:01 Jehovel

Dorothea orginally sold her home for $92,000. At that time, her adjusted basis in the home was $95,000. Five years later, she repossessed the home when the balance of the note was $87,000. She resold it within one year for $100,000. Original sale expenses were $1,150 and reslae expenses were $1,350. Repossession costs were $2,900. She incurred $1,100 for improvements prior to the resale. What is Dorothea's recomputed gain?

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Dorothea orginally sold her home for $92,000. At that time, her adjusted basis in the home was $95,0...
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