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Can you help with B and D Sarah (single) purchased a home on January 1,2008 , for $600,000. She eventually sold the home for $800,000.
Can you help with B and D
Sarah (single) purchased a home on January 1,2008 , for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) Note: Leave no answer blank. Enter zero if applicable. Required: a. Sarah used the home as her principal residence through December 31, 2019. She used the home as a vacation home from January 1, 2020, until she sold it on January 1,2023. b. Sarah used the property as a vacation home through December 31,2019 . She then used the home as her principal residence from January 1, 2020, until she sold it on January 1, 2023. Note: Round intermediate percentage computation to 2 decimal places. c. Sarah used the home as a vacation home from January 1,2008 , until January 1,2022 . She used the home as her principal residence from January 1, 2022, until she sold it on January 1, 2023. d. Sarah used the home as a vacation home from January 1, 2008, through December 31,2016 . She used the home as her principal residence from January 1, 2017, until she sold it on January 1, 2023. Note: Round intermediate percentage computation to 2 decimal placesStep by Step Solution
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