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Pedro, age 57, is the sole owner of his principal residence, which he has owned and occupied for 10 years. Maria, his spouse, has lived

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Pedro, age 57, is the sole owner of his principal residence, which he has owned and occupied for 10 years. Maria, his spouse, has lived there with Pedro for the full 10 years. He sells the house for a realized gain of $340,000. If an amount is zero, enter "O". a. Can Pedro use the 121 exclusion if he and Maria file a joint return? . Their If Pedro can use the 121 exclusion, the maximum eligible amount of $ 121 exclusion (before any limitations) is $ realized gain is $ and the recognized gain is $ b. Can Pedro use the $ 121 exclusion if he files a separate return? What is the maximum eligible amount of the exclusion? The recognized gain is $ c. Assume instead that the realized gain is $550,000 and a joint return is filed. The recognized gain is $ d. Assume instead that the realized gain is $550,000 and separate returns are filed. The recognized gain is $ e. Assume same facts as in requirement (a) except that Maria and Pedro have been married for only 18 months and that she has lived in his house only since their marriage. They file a joint return. The recognized gain is $

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