Arnold, who is single, sold his principal residence on April 10, 2016, and excluded the realized gain under § 121 (exclusion on the sale of a principal residence). On April 12, 2016, he purchased another principal residence, which he sells on January 12, 2017, for a realized gain of $80,000. Can Arnold exclude the $80,000 realized gain on the January 2017 sale if his reason for selling was?
a. His noisy neighbors? Explain.
b. A job transfer to another city? Explain.