On May 1 of This Year,Ingrid Sold Her Personal Residence

Multiple Choice

On May 1 of this year,Ingrid sold her personal residence for $250,000.Commissions on the sale were $20,000.Ingrid also incurred $10,000 of costs for painting and repairs,which were all completed and paid for two weeks prior to the sale of her home.Ingrid's basis in her old home was $180,000.Ingrid's realized gain upon the sale of her first home is

A) $0.
B) $40,000.
C) $50,000.
D) $70,000.