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Force Completion This test can be saved and resumed at any point until time has expired The timer will continue to run if you leave the test Remaining Time: 6 hours, 46 minutes, 10 seconds. e Question Completion Status: Close Window Moving to another question will save thes response K,Question, 13of735 Question 13 14 points Save Answer e land tive yeara ago tor $25,000. Bssed Jane owns land adjacent to her home that appreeiated in value by 55,000 this year. She acquszed the on these facts slone, the amoune that would be included in her taxable income tor the current year 18: a$30,000 O b 525,00o. $12,500. d 55,000 Oe.so. ( Queston 13 of 73 >. Morg to another question wil save this response. Close Window 9-42 DOLL

Explanation / Answer

Answer is option e which is 0. There is no tax on this appreciation as its just a increase in value and we can not include it if its not realised. It will be realised when the land will be sold by james and it will come in capital gain taxes

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