In Each of the Following Cases,determine the Amount of Realized

Essay

In each of the following cases,determine the amount of realized gain or loss and the recognized gain or loss:
a.Silvia sells her house for $100,000 and she pays $8,000 in commissions on the sale. She paid $110,000 for the house 2 years earlier.
b.In July 2015, Carmen, who is single, is transferred to Dallas. She had purchased a new home in June 2016 for $130,000. Carmen sells the house for $165,000 and pays a commission of $10,000 on the sale.
c.Conrad is single and sells his principal residence for $350,000. He pays selling expenses of $20,000. Conrad purchased the house for $65,000 in 1986.