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Allie and Josh recently sold the principal residence that they bought last year. Their house...

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Accounting

Allie and Josh recently sold the principal residence that they bought last year. Their house sold for $650,000 and they had to pay a real estate commission of $30,000 to the broker. They invested about $50,000 in the house to build out the basement when they bought the house last year for $400,000. How much taxable gain do they report on their tax return this year?

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