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Calvin and Colleen Coleman purchased a home in Denver for $375,000 on October 1, 2019. Calvin obtained a job in Portland, Oregon, and on December

Calvin and Colleen Coleman purchased a home in Denver for $375,000 on October 1, 2019. Calvin obtained a job in Portland, Oregon, and on December 1, 2020, the Colemans sold their home in Denver for $750,000. How much gain must the Coleman's recognize if they are married and file a joint return?

a.$-0-

b.$83,333

c.$291,667

d.$500,000

e.$375,000

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