Constanza, who is single, sells her current personal residence (adjusted basis of $244,500) for $684,600. She has owned and lived in the house for 30 years. Her selling expenses are $34,230. What is Constanza's realized and recognized gain? Constanza's realized gain is $fill in the blank 1 and her recognized gain would be $fill in the blank 2.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Constanza, who is single, sells her current personal residence (adjusted basis of $244,500) for $684,600. She has owned and lived in the house for 30 years. Her selling expenses are $34,230.

What is Constanza's realized and recognized gain?
Constanza's realized gain is $fill in the blank 1 and her recognized gain would be $fill in the blank 2.

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