Carlos bought a building for $113,000 in 2013.He added an addition to the building for $26,000.In 2017,he sold it for $212,000.What was his long-term capital gain (ignore depreciation)?

Question

Quizplus · Accepted Answer

Carlos's initial investment was $113,000 + $26,000 = $139,000.
When he sold the building for $212,000, his capital gain is calculated as:
$212,000 - $139,000 = $73,000.
Therefore, his long-term capital gain is $73,000.

Carlos Bought a Building for $113,000 in 2013