Question: Wynn , a 6 0 - year old single individual, sold his personal residence for $ 4 5 0 , 0 0 0 . Wynn

Wynn, a 60-year old single individual, sold his personal residence for $450,000. Wynn had owned his residence,
which had a basis of $250,000, for 6 years. Within 8 months of the sale, Wynn purchased a new residence for $400,000.
What is Wynns recognized gain from the sale of his personal residence?
A. $0
B. $50,000
C. $75,000
D. $200,000

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