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If the basis in the home is 300000 and the sale price is

Question - Amy and Steve are married. They sell their home in Texas because Amy was offered a job in Washington DC. Amy owned and used the home for 5 years. Steve moved in 1 year ago. If the basis in the home is $300,000 and the sale price is $600,000, what is the maximum exclusion they can take on this transaction?

A) $250,000

B) $300,000

C) $375,000

D) $500,000

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Accounting Basics: If the basis in the home is 300000 and the sale price is

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Accounting Basics: If the basis in the home is 300000 and the sale price is

Reference No:- TGS02522015

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