Required Information [The following Information applies to the questions displayed below.] Steve Pratt, who is single, purchased a home in Spokane, Washington, for $500,000. 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 $790,000. (Leave no answer blank. Enter zero if applicable.) a. What amount of gain will Steve be required to recognize on the sale of the home? Answer is complete but not entirely correct. Recognized gain on $ 290,000 > sale