Michael (single) purchased his home on July 1,2012 . He lived in the home as his principal residence untll July 1,2020 , when he moved out of the home, and rented It out untll July 1, 2021, when he moved back Into the home. On July 1, 2022, he sold the home and realized a $302,500 gain. What amount of the galn Is Michael allowed to exclude from his 2022 gross income? Multiple Choice $0 $225,000 $250,000 $302,500