Lana Owned a House Used as a Rental Property for Three

question 22

Multiple Choice

Lana owned a house used as a rental property for three years.During this rental period,she took $60,000 of depreciation deductions.Lana moved into the house and has used it as her principal residence for the past two years.Lana has just sold the house and realized a $200,000 gain.She will recognize gain of

• A)$0.
• B)$60,000.
• C)$200,000.
• D)$144,000.