Anne sold her home for $290,000 in 2012. Selling expenses were $17,400. She purchased it in 2005 for $200,000. During the period of ownership, Anne had done the following: -Deducted $50,500 office-in-

Anne sold her home for $290,000 in 2012. Selling expenses were $17,400. She purchased it in 2005 for $200,000. During the period of ownership, Anne had done the following: -Deducted $50,500 office-in-home expenses, which included $4,500 in depreciation 0Deducted a casualy loss in 2008 for residential trees destroyed by a hurricane. the total loss was $19,000 (after the $100 floor and the 10% of AGI floor), and Anne’s insurance company reimbursed her for $13,500 -Paid street paving assessment of $7,000 and added sidewalks for $8,000 -installed an elevator for medical reasons. the total cost was $20,000, and Anne deducted $13,000 as medical expenses. What is Anne’s realized gain?

Leave a Comment