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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

Respuesta :

mshurtado

Answer:

C)

Explanation:

$500,000

Shantel meets the ownership test and both shantel and Daron meet the use test requirement, the couple may exclude $500,000 of gain.

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