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Required information [The following information applies to the questions displayed below.] Sarah (single) purchased a home on January 1,2008 , for $600,000. She eventually sold
Required information [The following information applies to the questions displayed below.] Sarah (single) purchased a home on January 1,2008 , for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) Note: Leave no answer blank. Enter zero if applicable. . Sarah used the property as a vacation home through December 31,2020. She then used the home as her principal residence from anuary 1, 2021, until she sold it on January 1, 2024. lote: Round intermediate percentage computation to 2 decimal places
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