Pedro, age 57, is the sole owner of his principal residence, which he has owned and occupied for 10 years. Maria, his spouse, has lived there with Pedro for the full 10 years. He sells the house for a realized gain of $340,000. If an amount is zero, enter "0". d. Assume instead that the realized gain is $550,000 and separate returns are filed. The recognized gain is $fill in the blank 7d7c54f8f00007c_1. e. Assume same facts as in requirement (a) except that Maria and Pedro have been married for only 18 months and that she has lived in his house only since their marriage. They file a joint return. The recognized gain is $fill in the blank 530238fe3fc2fb5_1.
Pedro, age 57, is the sole owner of his principal residence, which he has owned and occupied for 10 years. Maria, his spouse, has lived there with Pedro for the full 10 years. He sells the house for a realized gain of $340,000. If an amount is zero, enter "0". d. Assume instead that the realized gain is $550,000 and separate returns are filed. The recognized gain is $fill in the blank 7d7c54f8f00007c_1. e. Assume same facts as in requirement (a) except that Maria and Pedro have been married for only 18 months and that she has lived in his house only since their marriage. They file a joint return. The recognized gain is $fill in the blank 530238fe3fc2fb5_1.
Chapter15: Property Transactions: Nontaxable Exchanges
Section: Chapter Questions
Problem 52P
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Pedro, age 57, is the sole owner of his principal residence, which he has owned and occupied for 10 years. Maria, his spouse, has lived there with Pedro for the full 10 years. He sells the house for a realized gain of $340,000.
If an amount is zero, enter "0".
d. Assume instead that the realized gain is $550,000 and separate returns are filed.
The recognized gain is $fill in the blank 7d7c54f8f00007c_1.
e. Assume same facts as in requirement (a) except that Maria and Pedro have been married for only 18 months and that she has lived in his house only since their marriage. They file a joint return.
The recognized gain is $fill in the blank 530238fe3fc2fb5_1.
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