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Wash Sale

If one spouse sells a house and excludes gain the other can exclude

John & Mary paid $100,000 for their house in 1970 and sold it for $800,000 in 2010. They will be taxed on

Spouses who live in the same house for 3 years and sell it can exclude gain up to

A. taxpayer sells & buys identical stock within 30 days

B. taxpayer buys and sells the same stock

C. $500,000

D. $200,000

E. $250,000

F. $700,000