Answer:
correct option is C. $250,000
Explanation:
given data
sold the home and gain = $300,000
to find out
amount of the gain allowed to exclude from gross income
solution
we know that Michael owned the property for the 10 years
so here Michael is not allowed to exclude the gain = 10 % that is $30,000
and The maximum gain exclusion permitted = $250000
so here Michael will recognize $50,000 because amount exceed $250,000 for a single taxpayer and exclusion of gain on sales of property tax payer need to own and occupy the property as principle residence for the 2 out of 5 year immediately preceding the sales
so here correct option is C. $250,000
Can you give a better explanation
The reason that the environmental optimist are not to be
concerned with the depletion of natural resources is because of technological
innovation in which they believe that this allows or has the capability of
developing synthetic materials in which can replace the natural resources that
are depleted.
Answer:
no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no
They should just probably hire another employee or something I don’t know.