Business
Business, 28.11.2019 20:31, 19dansiste

Fran was transferred from phoenix to atlanta she sold her phoenix residence (adjusted basis of $250,000) for a realized gain of $50,000 and purchased a new residence in atlanta for $375,000 fran had owned and lived in the phoenic residence for 6 years what is fran's recognized gain or loss on the sale of the phoenix residence and her basis for the residence in atlanta?
a. $0 recognized gain/loss; $375,000 basis
b. $0 recognized gain/loss $425,000 basis
c. ($50,000) recognized loss; $325 000 basis
d. ($50,000) recognized loss; $375,000 basis

answer
Answers: 2

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Fran was transferred from phoenix to atlanta she sold her phoenix residence (adjusted basis of $250,...

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