Real Estate Math
A NH seller's adjusted basis in a property is $180,000. They sell it for $295,000. After paying $17,700 in commissions and $3,200 in closing costs, what is the seller's capital gain?
A$94,100✓ Correct
B$115,000
C$97,800
D$80,400
Explanation
Amount realized = $295,000 − $17,700 − $3,200 = $274,100. Capital gain = Amount realized − Adjusted basis = $274,100 − $180,000 = $94,100.
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