Multiple Choice
Gary and Gerdy Gray purchased a home for $125,000 on September 15, 2010. On October 7, 2011 they were divorced, and as part of the divorce agreement, the home was transferred to Gerda who sold the home on October 18, 2012 for $350,000. How much can Gerda exclude?
A) $350,000
B) $250,000
C) $225,000
D) $-0-
E) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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