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The adjusted basis is the sale price minus any commissions or fees paid.
A married couple paid interest and property taxes on their home of $9,700 last year. They should deduct these items when doing their tax return this year.
An investor sold an office property for a loss of $28,000 and had a capital gain of $19,000. The investor’s ordinary income for the year was $75,000. What will the taxable income of the investor be?