Sidney (single) sold her principal residence on October 15, 2023 for $700,000. She had originally purchased the home in March 2019 for $400,000. She has used the home as her principal residence since its purchase and has not previously claimed a Section 121 exclusion. What is Sidney's Recognized Gain?

Answer rating: 100% (QA)

To calculate Sidneys recognized gain on the sale of her principal residence we fi... View the full answer