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Business, 10.05.2021 21:20 teresaswinger

Ms. Orchard purchased a duplex in Year 1. She lived in one unit as her principal residence and rented out the other unit until she sold the duplex in February Year 15 (the current year). In April Year 15, she bought and lived in a small single home. She did not replace the rental property. Her records showed the following: Duplex Original cost $100,000 Capital improvements 30,000 Depreciation until date of sale (rental unit only) 40,000 Selling price 250,000 Selling expenses 20,000 What is the amount of gain that Ms. Orchard may exclude in Year 15

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Ms. Orchard purchased a duplex in Year 1. She lived in one unit as her principal residence and rente...
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