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Ben Benson, Single, Sold His Home That He Had Owned

Question 11

Multiple Choice

Ben Benson, single, sold his home that he had owned for 20 years for $695,000. He purchased it for $140,000 and made $45,000 of capital improvements on the home during his time of ownership. How much gain is excluded?


A) $510,000
B) $500,000
C) $260,000
D) $250,000
E) None of the above

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