Exam (elaborations)
CDFA EXAM QUESTIONS AND ANSWERS
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Adam and Kim are divorced. Adam was awarded use of their jointly-owned home for three years. It has been three years and Adam and Kim have sold the home for $920,000. The basis was $360,000, the mortgage was $420,000, and the selling expenses were $35,000. What is Kim's taxable capital gain? $1250...
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