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Principal Residence Jane Herbert acquired a house in 2019 for $300,000. In 2021 she...

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Accounting

Principal Residence
Jane Herbert acquired a house in 2019 for $300,000. In 2021 she acquired a cottage
for $150,000. She lived in the house in the winter and in the cottage in the summer.
In 2023 she sold both properties. She received $400,000 for the house and
$250,000 for the cottage.
Instructions: Enter your final answers as amounts, with NO dollar signs, NO commas,
NO decimals. ROUND your final answers to the nearest dollar. Enter in POSITIVE
NUMBERS only.
Question 5(10 points)
[
Determine the minimum taxable capital gain to be reported by Jane on the sale of
the two properties.
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