Anita sold for $60,000 her home that she purchased ten years ago for $20,000. She then purchased another home a month later for $70,000. The taxable amount of her capital gain is
A)
$60,000.
B)
$40,000.
C)
$30,000.
D)
$0.
D
You might also like to view...
Production quality is affected by
a. worker productivity. b. the amount of failure costs incurred. c. worker skill level. d. Just-in-time suppliers.
As retailers decrease the level of safety inventory they carry, the distributor will have to
A) decrease his or her safety inventory. B) increase his or her safety inventory. C) keep his or her safety inventory at the same level. D) increase his or her cycle inventory.
Which of the following is a cost/expense that an estate clearance fund is designed to pay?
A) burial expenses B) retiring the mortgage C) education costs D) income for the widow(er) during the readjustment period
Which of the following is not a characteristic of adverse possession?
a. it is hostile use of another person's land b. the adverse user has no legal right to occupy the land c. the use of land is exclusive d. the possession of the land is continuous e. all of the other choices are characteristics