Dawn (single) purchased her home on July 1,2008.On July 1,2016 Dawn moved out of the home.She rented out the home until July 1,2017 when she sold the home and realized a $230,000 gain (assume none of the gain was attributable to depreciation) .What amount of the gain is Dawn allowed to exclude from her 2017 gross income?
A) $0.
B) $23,000.
C) $207,000.
D) $230,000.
Correct Answer:
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