Question 30 of 40. Donald resold his former principal residence after he repossessed it. He must use the general rule requirement if: His residence was resold within one year of the date of repossession. His residence was resold 24 months after the date of repossession. All or part of the realized gain on the original sale was excluded.t The gain excluded on the original sale is adjusted. Mark for follow up Question 31 of 40 Which of the following is accurate regarding gain recognition on the repossession of qualified real property? Recognized gain on the repossession is limited to the gross profit on the original sale minus the total gain already reported, plus the costs of repossession. sales price of the property plus the total gain already reported, minus the costs of repossession. sales price of the property minus the total gain already reported. total gain on the original sale plus the total gain already reported, minus the costs of repossession. Mark for follow up