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Mr. Carpenter, a single man age 50, sells his personal residence for $600,000. He originally purchased it 9 years ago for $550,000. What portion of the sales proceeds is taxable?

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All states in the United States require real estate brokers to take an exam to get licensed.  Such subjects as operation of a brokerage, contract law and agency concepts and others.


Mr. Carpenter, a single man age 50, sells his personal residence for $600,000. He originally purchased it 9 years ago for $550,000. What portion of the sales proceeds is taxable?






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