(Answered) William and rachel who are married filing jointly sold

Accounting

William and Rachel, who are married filing jointly, sold their home October 1, year 4 for $950,000 because of William's out-of-town job transfer. They had purchased it together as their principal residence October 1, year 3 for $600,000.

Calculate the amount of taxable gain or deductible loss that the taxpayer(s) would report in the year of sale.

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