For each of the following situations, calculate the amount of taxable gain or deductible loss that the taxpayer(s) would report in the year of sale on your Excel Spreadsheet. If there is no taxable gain, write 0.

Mimi files as head of the household and purchased her principal residence on March 1, Year 2 for $250,000. She lived in the home for 3 years and sold it for $475,000. During the 3 years, Mimi took a home office deduction with depreciation totaling $3,000.