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What is the maximum exclusion they can take

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Question - Amy and Steve are married. They sell their home in Texas because Amy was offered a job in Washington DC. Amy owned and used the home for 5 years. Steve moved in 1 year ago. If the basis in the home is $300,000 and the sale price is $600,000, what is the maximum exclusion they can take on this transaction?

A) $250,000

B) $300,000

C) $375,000

D) $500,000

Reference no: EM131726498

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