Save Answer QUESTION 10 4 points Amarried filing joint couple purchased a home in Seattle, Washington, for $500,000. They moved into the home on October 1 of year 1. They lived in the home as their primary residence until January 1 of year 5, when they sold the home for $1,050,000. (a) What is the gain on the sale of the home? (b) How much of this gain will be included in taxable income in the year of sale? (c) Assume the original facts, except that the taxpayers sold the home June 30 of year 3 instead, how much of the gain would be included in taxable income in the year of sale? Please place answer on first line below, indicated as Answer: (a) S (b) S (c) $ For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Save Answer QUESTION 10 4 points Amarried filing joint couple purchased a home in Seattle, Washington, for $500,000. They moved into the home on October 1 of year 1. They lived in the home as their primary residence until January 1 of year 5, when they sold the home for $1,050,000. (a) What is the gain on the sale of the home? (b) How much of this gain will be included in taxable income in the year of sale? (c) Assume the original facts, except that the taxpayers sold the home June 30 of year 3 instead, how much of the gain would be included in taxable income in the year of sale? Please place answer on first line below, indicated as Answer: (a) S (b) S (c) $ For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)