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Please use 2020 data if neccesary Renee and Matt sold their home this year for $400,000 after all selling costs. They purchased the home three

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Please use 2020 data if neccesary
Renee and Matt sold their home this year for $400,000 after all selling costs. They purchased the home three years ago for $250,000. They lived in the home as their principal residence the first year but then moved out of state and have not returned. How much taxable gain does the home sale generate for Renee and Matt? Their filing status is married filing jointly. Renee and Matt sold their home this year for $400,000 after all selling costs. They purchased the home three years ago for $250,000. They lived in the home as their principal residence the first year but then moved out of state and have not returned. How much taxable gain does the home sale generate for Renee and Matt? Their filing status is married filing jointly

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