The Tomlinsons decide to sell their home for $345,000. They are charged a real estate commission of 5.5% of the selling price, title insurance that is 1% of the selling price, and an escrow fee of $800. (See Example 2 in this section.)What amount (in dollars) do the Tomlinsons receive after fees? (Enter a number.)$What percentage of the selling price was fees? Round to the nearest tenth of a percent. (Enter a number.) The Tomlinsons decide to sell their home for $345,000. They are charged areal estate commission of 5.5% of the selling price, title insurance that is 1%of the selling price, and an escrow fee of $800. (See Example 2 in thissection.)What amount (in dollars) do the Tomlinsons receive after fees? (Enter anumber.)What percentage of the selling price was fees? Round to the nearest tenth of apercent. (Enter a number.)%

Commission is charged on sale price

The Tomlinsons decide to sell their home for $345,000. They are charged a real estate commission of 5.5% of the selling price, title insurance that is 1% of the selling price, and an escrow fee of $800. (See Example 2 in this section.) What amount (in dollars) do the Tomlinsons receive after fees? (Enter a number.)

The Tomlinsons decide to sell their home for $345,000. They are charged a real estate commission of 5.5% of the selling price, title insurance that is 1% of the selling price, and an escrow fee of $800. (See Example 2 in this section.) What amount (in dollars) do the Tomlinsons receive after fees? (Enter a number.)

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 10MCQ: Which of the following will result in the recognition of gross income? Gail's employer allows her to...

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