12. Gloria and her husband purchased a home on December 31, 2019 for $300,000, and sold...

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12. Gloria and her husband purchased a home on December 31, 2019 for $300,000, and sold the home for a selling price of $900,000 on December 5, 2020. She paid legal fees of $20,000 related to the sale. They used home as the principal residence from January 1, 2020 until they sold it on December 5, 2020. They do not have a dependent. What amount of gain will be recognized on the sale of this home, on a joint 2020 return? O $600,000 O $80,000 O $330,000 O $580.000 12. Gloria and her husband purchased a home on December 31, 2019 for $300,000, and sold the home for a selling price of $900,000 on December 5, 2020. She paid legal fees of $20,000 related to the sale. They used home as the principal residence from January 1, 2020 until they sold it on December 5, 2020. They do not have a dependent. What amount of gain will be recognized on the sale of this home, on a joint 2020 return? O $600,000 O $80,000 O $330,000 O $580.000

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