Jessica Dobson is a single taxpayer who recently sold her home for a gain of $400,000. She had owned and lived in the home for the past 10 years. What is the amount and character of her gain on the sale. Question 4 options: $400,000 of ordinary income or gain $150,000 of short-term capital gain $150,000 of long-term capital gain $400,000 of long-term capital gain $1500,000 of ordinary income gain