Bart and Laura, both age $48,$ sold their primary residence this year for $$800,000$ after having lived there for $15$ years. They bought the home for $$300,000.$ They are concerned about the tax implications associated with such a large capital gain. After reviewing their situation and the current tax laws, you conclude that

A$)$ the Section $121$ exclusion cannot be used because Bart and Laura have not attained the required age.

B$)$ if Bart and Laura utilize the Section $121$ exclusion on this sale they will not be eligible to use it again on a future sale.

C$)$ the full $$500,000$ gain can be excluded from income using Section $121.$

D$)$ a maximum of $$250,000$ can be excluded from income using Section $121.$ The remaining gain will be taxable as a capital gain.