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home? 50 $ 70,000 320,000 -. %710.DOO
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Answer #1

For an individual upto $250,000 of profit is non taxable.

Profit on home sale =$960,000-$390,000=$570,000

$250,000 of this shall not be taxed, hence taxable amount = $570,000-$250,000=$320,000

Hence third option is correct

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