Basil, who is single, purchased a house on May 10, 1982, for $175,000. During the years Basil owned the house, he installed a pool at a cost of $20,000 and built a new garage at a cost of $20,000. On October 12, 2015, Basil sold the house for $518,000. Basil paid a sales commission of $24,600 and legal fees of $400 connected with the sale of the house. What is Basil's recognized gain on the sale of the house?

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The Answer of Basil, who is single, purchased a house on May 10, 1982, for $175,000. During the years Basil owned the house, he installed a pool at a cost of $20,000 and built a new garage at a cost of $20,000. On October 12, 2015, Basil sold the house for $518,000. Basil paid a sales commission of $24,600 and legal fees of $400 connected with the sale of the house. What is Basil's recognized gain on the sale of the house?

Basil, Who Is Single, Purchased a House on May 10