Real Estate Math
A Nevada investor buys a property for $500,000 and sells it 3 years later for $620,000 after $30,000 in improvements. What is the total gain?
A$90,000✓ Correct
B$120,000
C$76,500
D$150,000
Explanation
Adjusted basis = $500,000 + $30,000 improvements = $530,000. Gain = $620,000 – $530,000 = $90,000.
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