Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

jim horn, single, purchased a residence on january 5, year 3, for $50,000. on january 5, year 4, jim sold the residence for $300,000 and purchased a new residence on january 15, year 4, for $320,000 due to a change in place of employment. jim has a taxable gain on the sale of the residence of: