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Katie sells her personal use automobile for $12,000. She purchased the car three years ago for $10,000. What is Katie's recognized gain or loss?

Katie sells her personal use automobile for $12,000. She purchased the car three years ago for $10,000. What is Katie's recognized gain or loss?
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Katie sells her personal use automobile for $12,000. She purchased the car three years ago for $10,000. What is Katie's recognized gain or loss?

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User Vpalle
by
7.6k points

1 Answer

1 vote
katie’s recognized gain / loss would be $0
answered
User Clain Dsilva
by
7.4k points
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