Y Owns a Home in Which She Has Lived with Her

question 33

Multiple Choice

Y owns a home in which she has lived with her spouse, Z, for seven years.On June 2, 20X2, the home was sold at a gain of $325,000.How much gain must Y recognize?

• A)$325,000 if Y files separately
• B)$0 if Y and Z file jointly
• C)$75,000, regardless of filing status
• D)$0, regardless of filing status

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