Alison Jacobs (single)purchased a home in Las Vegas,Nevada,for $400,000.She moved into the home on September 1,year 0.She lived in the home as her primary residence until July 1 of year 4,when she sold the home for $675,000.If Alison's tax rate on long-term capital gains is 15 percent,what amount of tax will Alison pay on the $275,000 gain?

Question

Quizplus · Accepted Answer

The Answer of Alison Jacobs (single)purchased a home in Las Vegas,Nevada,for $400,000.She moved into the home on September 1,year 0.She lived in the home as her primary residence until July 1 of year 4,when she sold the home for $675,000.If Alison's tax rate on long-term capital gains is 15 percent,what amount of tax will Alison pay on the $275,000 gain?

Alison Jacobs (Single)purchased a Home in Las Vegas,Nevada,for $400,000