Assume the original facts, except that stephanie moves in with steve on march 1 of year 3 and the couple is married on march 1 of year 4. under state law, the couple jointly owns steve’s home beginning on the date they are married. on december 1 of year 3, stephanie sells her home that she lived in before she moved in with steve. she excludes the entire $150,000 gain on the sale on her individual year 3 tax return. what amount of gain must the couple recognize on the sale in june of year 5?
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Assume the original facts, except that stephanie moves in with steve on march 1 of year 3 and the co...
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