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Reg. $700.000 painting sold.?


I paid $175.000 for the painting 1 year ago .sold for $700.000 in 07 how much in taxes will i pay?

Your capital gain for the year is 700000 minus 175000

.

You posted this question before at http://answers.yahoo.com/question/index;...

All you need to do is some simple math.

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