Required information Problem 14-41 (LO 14-2) (Algo) The following information applies to the questions displayed below) Steve Pratt, who is single, purchased a home in Spokane, Washington, for $400,000. He moved into the home on February 1 of year 1. He lived in the home as his primary residence until June 30 of year 5. when he sold the home for $725,000. (Leave no answer blank. Enter zero if applicable.) Problem 14-41 Part a (Algo) a. What amount of gain will Steve be required to recognize on the sale of the home? Recognized gain on sale c. Assume the original facts, except that Steve married Stephanie on February 1 of year 3 and the couple lived in the home until they sold it in June of year 5. Under state law, Steve owned the home by himself. How much gain must Steve and Stephanie recognize on the sale (assume they file a joint return in year 5) Recognized gain on sale