D Question 7 1 pts Jay Smith is a single taxpayer who just sold his principal...

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D Question 7 1 pts Jay Smith is a single taxpayer who just sold his principal residence for $315,000. He purchased the home 10 years earlier and lived it until he sold it for $450,000. How much of the gain on the sale of his personal residence can he exclude from his income? $250,000 $135,000 $65,000 none of the gain can be excluded from his income D Question 7 1 pts Jay Smith is a single taxpayer who just sold his principal residence for $315,000. He purchased the home 10 years earlier and lived it until he sold it for $450,000. How much of the gain on the sale of his personal residence can he exclude from his income? $250,000 $135,000 $65,000 none of the gain can be excluded from his income