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Steven, a single taxpayer, has been transferred by his company to Portland. He sold his...

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Accounting

Steven, a single taxpayer, has been transferred by his company to Portland. He sold his house for $650,000 and he had an adjusted basis of $330,000. Steven owned and lived in the home for 18 months. What is his capital gain from the sale of the personal residence? a. $0. b. $132,500 LTCG. c. $187,500 LTCG. d. $320,000 LTCG.

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