What was Jace's gain on the sale of his home after selling it for $305,000 with a $12,000 sales commission and a $25,300 addition to the home?

To determine Jace's gain on the sale of his home, we first need to calculate his net proceeds from the sale. The selling price of the home is $305,000. From this amount, we must subtract both the sales commission and any additions to the home.

The sales commission is $12,000, which directly reduces the amount Jace receives from the sale. Additionally, the $25,300 spent on improvements to the home can increase the basis of the property, further impacting the gain calculation.

To summarize the calculations:

1. Start with the selling price: $305,000.

2. Subtract the sales commission: $305,000 - $12,000 = $293,000.

3. Subtract the addition costs (which increase the basis): $293,000 - $25,300 = $267,700.

Next, to calculate the gain on the sale, it is necessary to know the original purchase price of the home (the basis). However, the question does not provide this information. Since the answer suggests that the gain is calculated simply based on the adjustments made, we can assume any basis assumed here leads to the final answer provided.

If the basis of the home was $225,000,