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Troy single purchased a home in hopkinton massachusetts on

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Troy (single) purchased a home in Hopkinton, Massachusetts, on April 6, 2005, for $515,500. He sold the home on October 6, 2012, for $547,000. How much gain must Troy recognize on his home sale in each of the following alternative situations? a. Troy lived in the home as his principal residence from April 6, 2005, through July 5, 2009. He rented the home from July 6, 2009, through the date of the sale. Accumulated depreciation on the home at the time of sale was $3,100.

Reference no: EM13609614

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