Alison bought her home 8 years ago for $120,000. Three years ago Alison married Mike...
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Accounting
Alison bought her home 8 years ago for $120,000. Three years ago Alison married Mike and he moved into her house and they have lived there since. If they sell Alison's house in the current year for $340,000, what is their taxable gain on a joint tax return? a. $220,000 b. $0 c. $20,000 d. $155,000
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