1. taxpayer may be required to include in gross income the gain the taxpayer realizes when she sells her principal residence.

A. True

B. False

2. For determining whether a taxpayer qualifies to exclude gain on the sale of a principal residence, the periods of ownership and use need not be continuous, nor do they need to cover the same two-year period.

A. True

B. False

3. A taxpayer who purchases real property during the year is allowed to deduct the property taxes on that property for the entire year in which the property was purchased.

A. True

B. False

4. When allocating expenses of a vacation home between personal use and rental use, the amount of depreciation expense allocated to rental use is based on the number of rental days over rental days plus personal-use days.

A. True

B. False