Leticia and Stephanie Sims purchased a home in Spokane, Washington, for $465,000. They moved into the home on February 1 of year 1 . They lived in the home as their primary residence until June 30 of year 5 , when they sold the home for $907,500. Note: Leave no answer blank. Enter zero if applicable. Required: a. What amount of gain on the sale of the home are the Sims required to include in taxable income? b. Assume the original facts, except that Leticia and Stephanie live in the home until January 1 of year 3 , when they purchase a new home and rent out the original home. They finally sell the original home on June 30 of year 5 for $907,500. Ignoring any issues relating to depreciation taken on the home while it is being rented, what amount of realized gain on the sale of the home are the Simses required to include in taxable income? c. Assume the same facts as in part (b), except that the Sims live in the home until January of year 4, when they purchase a new home and rent out the first home. What amount of realized gain on the sale of the home will the Sims include in taxable income if they sell the first home on June 30 of year 5 for $907,500 ? d. Assume the original facts, except that Stephanie moves in with Leticia on March 1 of year 3 and the couple is married on March 1 of year 4. Under state law, the couple jointly owns Leticia's home beginning on the date they are married. On December 1 of year 3 , Stephanie sells her home that she lived in before she moved in with Leticia. She excludes the entire $192,500 gain on the sale on her individual year 3 tax return. What amount of gain must the couple recognize on the sale in June of year 5 ? Complete this question by entering your answers in the tabs below. What amount of gain on the sale of the home are the Sims required to include in taxable income? Jesse Brimhall is single. In 2022 , his itemized deductions were $9,000 before considering any real property taxes he paid during the year. Jesse's adjusted gross income was $70,000 (also before considering any property tax deductions). In 2022 , he paid real property taxes of $3,000 on property 1 and $1,200 of real property taxes on property 2 . He did not pay any other deductible taxes during the year. Required: a. If property 1 is Jesse's primary residence and property 2 is his vacation home (he does not rent it out at all), what is his taxable income after taking property taxes into account? b. If property 1 is Jesse's business building (he owns the property) and property 2 is his primary residence, what is his taxable income after taking property taxes into account (ignore the deduction for qualified business income)? c. If property 1 is Jesse's primary residence and property 2 is a parcel of land he holds for investment, what is his taxable income after taking property taxes into account? Complete this question by entering your answers in the tabs below. If property 1 is Jesse's primary residence and property 2 is his vacation home (he does not rent it out at all), what is his taxable income after taking property taxes into account