Cash for an investment opportunity


Purchased a home in Maine on December 15, 1996 for $250,000 and lived in it full time until purchased a second home in Florida on October 1, 2007 for $380,000. In 2007 and 2008 continued to have primary residence in Maine. In 2009, changed primary residence to Florida. Want to sell one of those homes before the end of 2012 for cash for an investment opportunity and need a minimum gain of $200,000 on either home sale, which home do I sell?

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Accounting Basics: Cash for an investment opportunity
Reference No:- TGS043913

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