Simonne,a single taxpayer,bought her home in La Jolla 25 years ago for $45,000.She has lived continuously in the home since she purchased it.In December,2013,she sells her home for $405,000.What is Simonne's taxable gain on the sale?
A) $0
B) $360,000
C) $235,000
D) $110,000
Correct Answer:
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