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2 October, 23:55

Matt bought a home in 2001 and paid $150,000 for it. He sold the home for $450,000. How much of the profit on his home will be taxable this year?

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  1. 3 October, 02:34
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    profit to be taxable will be $300,000

    Step-by-step explanation:

    Matt home cost = $150,000

    Matt sold his home for = $450,000

    so,

    cost price will be $150,000

    selling price will be $450,000

    profit = selling price - cost price

    profit = $450,000 - $150,000

    profit = $300,000

    hence the taxable amount for his home this year will be $300,000
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