Sarah single purchased a home on january 1 2008 for 600000, Business Economics

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Sarah single purchased a home on january 1 2008 for 600000

Sarah (single) purchased a home on January 1, 2008 for $600,000. She eventually sold the home for $790,000. Sarah used the property as a vacation home through December 31, 2014. She then used the home as her principal residence from January 1, 2015 until she sold it on January 1, 2017. What amount of the gain on the sale does Sarah recognize?

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Business Economics: Sarah single purchased a home on january 1 2008 for 600000

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Business Economics: Sarah single purchased a home on january 1 2008 for 600000

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