answer A-D clear answers

Steve and Stephanie Pratt purchased a home in Spokane, Washington, for $400,000. They moved into the home on February 1 of year 1. They lived in the home as their primary residence until June 30 of year 5, when they sold the home for $700,000. a) What amount of gain on the sale of the home are the Pratts required to include in taxable income? by Assume the original facts, except that Steve and Stephanie live in the home until January of year 3. when they purchase a new home and rent out the original home. They finally set the original home on June 30 of year 5 for $700,000. Ignoring any issues relating to depreciation taken on the home while it is being rented, what amount of realized gain on the sale of the home are the Pratts required to include in taxable income? c) Assume the same facts as in part (b), except that the Pratts.live in the home until January of year when they purchase a new home and rentout the test home. What amount of realized gain on the site of the home will the Pitts include in taxable income if they sell the first home on June 30 years for $700,000 Assume the original facts, except that Stephanie moves in with Steve on March of year and the couple is mured on March of year 4 Under state law, the couple jointly owns Stoves nome beginning on the date they are married. On December 1 of year. Stephanie self her bome that she lived in before she moved in with Steve. She excludes the entire $50,000 gain on the sale on her individual year tax return: What amount of gain most the couple recognize on the sale in June of year 57