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Toni purchased a home for use as her principal residence in 19X0. In 19X7, Toni married Earl who moved into the residence immediately after the
Toni purchased a home for use as her principal residence in 19X0. In 19X7, Toni married Earl who moved into the residence immediately after the wedding. The residence was sold in 19X8 at a gain of $325,000. How much gain must Toni recognize on the sale of the residence?
Multiple Choice
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$100,000
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$75,000
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$0
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$325,000
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