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Business, 12.03.2020 00:28 Zayybabii

Matt sold his house for $2,200,000 and had $195,000 in closing costs. His beginning basis was $1,955,000 and he spent $5,000 on capital improvements. What is Matt's capital gain for tax purposes? (assume he doesn't qualify for an exclusion)

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Matt sold his house for $2,200,000 and had $195,000 in closing costs. His beginning basis was $1,955...
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