Carl sells his principal residence, which has an adjusted basis of $150,000 for $200,000. he incurs selling expenses of $20,000 and legal fees of $2,000. he had purchased another residence one month prior to the sale for $380,000. what is the recognized gain or loss and the basis of the replacement residence if the taxpayer elects to forgo the § 121 exclusion (exclusion of gain on sale of principal residence)?

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Describe the factors that made trinity successful by illustrating the flow processes of the organization both in a narrative and process flowchart.

What is the percentage of total gross domestic productions ( gdp) that oil sales represent to the top ten oil producing countries?