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1. (6 POINTS) Explain in detail the two tests most taxpayers must satisfy in order to exclude a gain on a sale of a qualified

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1. (6 POINTS) Explain in detail the two tests most taxpayers must satisfy in order to exclude a gain on a sale of a qualified personal residence. What are the differences between rules for married filing joint taxpayers and single taxpayers? What amounts can taxpayers qualify to exclude, how often can this kind of gain be excluded, and are there any exceptions to the rule

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