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This year, Leron and Sheena sold their home for $712,500 after all selling costs. Under the following scenarios, how much taxable gain does the home
This year, Leron and Sheena sold their home for $712,500 after all selling costs. Under the following scenarios, how much taxable gain does the home sale generate for Leron and Sheena? (Leave no answer blank. Enter zero if applicable.)
a. Leron and Sheena bought the home three years ago for $125,000 and lived in the home until it sold.
Please explain all numbers that are included in calculating this answer.
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