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33. Lorraine and phil are preparing to sell the house they had occupied for twenty-five years. since they will realize a large profit from the
33. Lorraine and phil are preparing to sell the house they had occupied for twenty-five years. since they will realize a large profit from the sale, they would likely:
A. realize capital gain.
B. realize ordinary gain.
C. be unable to utilize the '121 exclusion after five years.
D. be able to exchange their house under '1031.
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