Two years ago Peta purchased a house in Kew.


Two years ago Peta purchased a offspring in Kew. This offspring had two old tennis courts down the tail which were in bald mode. She purchased the possessions for two reasons: ï‚· so that she and her nativity could speed in the offspring; and ï‚· so that she could construct three units on the tennis courts and retail them at a improvement. In the plain tax year the tennis club proximate door proffered to buy the old tennis courts, but singly if Peta principal vertical them to good-natured-natured mode. Peta firm to recognize the club’s prproffer instead of going forward delay her pur-pose to construct and retail units. Peta elapsed $100,000 on preparing the tennis courts for sale. This compromised a sublime chaffer of toil. Peta had to resurface the tennis courts and construct new fences environing them. She then sold the tennis courts in the plain tax year to the tennis club for $600,000. Ignoring excellent gains tax, argue whether the reception of $600,000 is plain allowance beneath 6-5

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