Real Estate Math
A Florida property owner purchased land for $80,000 ten years ago. They are now selling it for $180,000. The capital gain is:
A$80,000
B$100,000✓ Correct
C$180,000
D$260,000
Explanation
Capital gain = Sale Price − Adjusted Basis. If no improvements were made and no depreciation taken, the adjusted basis equals the original purchase price: Gain = $180,000 − $80,000 = $100,000.
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