This year barney and betty sold their home sales price, Financial Accounting

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This year barney and betty sold their home sales price

This year, Barney and Betty sold their home (sales price $750,000; cost $200,000). All closing costs were paid by the buyer. Barney and Betty owned and lived in their home for 18 months. How much of the gain is included in gross income?

A. $550,000

B. $300,000

C. $250,000

D. $50,000

E. None

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Financial Accounting: This year barney and betty sold their home sales price

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