Wanda purchases a house on 5/5/2014. She is single. She lives in the house for 4 years and rents it out for two years. Which of the following is true.

Select one:

a. The years she rents it out is termed "qualified use".

b. If Wanda first rents out the house for two years and then lives in it for 4 years, the only gain she must report is from depreciation recapture.

c. If Wanda first rents out the house for two years and then lives in it for 4 years she can exclude $250,000 of the gain.

d. If Wanda first lives in the house for 4 years and then rents it out for two year, she can exclude up to $250,000 of the gain.