Ahomeowner originally purchased a new home for $244,900. during the period of ownership, the homeowner spent $27,000 in capital improvements. the homeowner sold the home 16 years later for $329,900. the homeowner paid a brokerage fee of 6% of the sale price and paid other closing costs totaling $2,750. what was the homeowners capital gain from the sale?

The answer is: $35,456

Explanation:

Capital gains = net sale price - capital improvements - original price

Capital gains = $307,356 - $27,000 - $244,900

Capital gains = $35,456

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