Antonio Owns Land Held for Investment with a Basis of $28,000

question 199

Multiple Choice

Antonio owns land held for investment with a basis of $28,000. The city of Lafayette exercises the right of eminent domain and Antonio receives a payment of $48,000. What is Antonio's realized gain?

• A) $20,000
• B) $0
• C) $48,000
• D) $28,000

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