Mike sold his vacation home to the st. edwards church. the vacation home had a fair market value of $250,000. mike inherited the vacation home from his father three years prior to the sale when the fair market value of the home was $120,000. mike’s father had an adjusted basis in the vacation home equal to $150,000. the full sales price paid by st. edwards church to mike was $75,000. what amount of capital gain/loss would mike report on his tax return for the year related to this sale?

Match the situations that will develop one's personality and those that won't peter is surrounded by friends who are always encouraging him jonathan always watches television when he wants to take a break from his books libby sets small targets for herself and strives to achieve them. the smiths indulge in an animated discussion on varied topics every evening after dinner. brook loves junk food and exercises once in a while. develops your personality develops doesn't develop your personality