Personal residence was purchased by single taxpayer three years ago for $175,000 and used as taxpayer's principal residence for the last three years. Improvements of $25,000 were made. Taxpayer sold the residence for $500,000 in the current year. Determine the: Tax Basis: Question Blank 1 of 4 type your answer... Holding Period: Question Blank 2 of 4 choose your answer... Recognized Gain: Question Blank 3 of 4 type your answer... Realized Gain