How much of the gain is included in gross income


This year, Barney and Betty sold their home (sales price $750,000; cost $200,000). All closing costs were paid by the buyer. Barney and Betty owned and lived in their home for 18 months. How much of the gain is included in gross income?

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Accounting Basics: How much of the gain is included in gross income
Reference No:- TGS0693007

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