In each of the following cases, determine the amount of realized gain or loss and the recognized gain or loss:
a.Silvia sells her house for $100,000 and she pays $8,000 in commissions on the sale. She paid $110,000 for the house 2 years earlier.
b.In July 2017, Carmen, who is single, is transferred to Dallas. She had purchased a new home in June 2018 for $130,000. Carmen sells the house for $165,000 and pays a commission of $10,000 on the sale.
c.Conrad is single and sells his principal residence for $350,000. He pays selling expenses of $20,000. Conrad purchased the house for $65,000 in 1986.?

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The Answer of In each of the following cases, determine the amount of realized gain or loss and the recognized gain or loss:
a.Silvia sells her house for $100,000 and she pays $8,000 in commissions on the sale. She paid $110,000 for the house 2 years earlier.
b.In July 2017, Carmen, who is single, is transferred to Dallas. She had purchased a new home in June 2018 for $130,000. Carmen sells the house for $165,000 and pays a commission of $10,000 on the sale.
c.Conrad is single and sells his principal residence for $350,000. He pays selling expenses of $20,000. Conrad purchased the house for $65,000 in 1986.?

In Each of the Following Cases, Determine the Amount of Realized