Shantel Owned and Lived in a Home for Five Years

question 76

Multiple Choice

Shantel owned and lived in a home for five years before marrying Daron. Shantel and Daron lived in the home for two years before selling it at a $700,000 gain. Shantel was the sole owner of the residence until it was sold. How much of the gain may Shantel and Daron exclude?

• A) $0.
• B) $250,000.
• C) $500,000.
• D) $700,000.

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Definitions:

Peer Review

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