For the last nine years, Mr. and Mrs. Orchard live in a residence located on eight acres. In January

For the definite nine years, Mr. and Mrs. Orchard subsist in a dwelling located on prospect acres. In January of the prevalent year they retail the home and two acres of place. The purchaser of the dwelling does not eagerness to own the solid prospect acres of place. In December they retail the cherishing six acres of place to another peculiar for $60,000. The stock and the place bear never been used by the Orchards in a employment or duty or held for investment. The realized gains remaindering from the cwo sales are computed as follows:

As a remainder of the sales illustrative overhead, what is the amount of realized gain confabulation must be stated during the prevalent year?

 A favoring catalogue of exploration sources is:

• Reg. Sec. 1.121 -1(6)