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On February 1, 2019, Stephen (who is single) sold his principal residence thome) at $100.000 gain. He was able to exclude the entire gain on

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On February 1, 2019, Stephen (who is single) sold his principal residence thome) at $100.000 gain. He was able to exclude the entire gain on his 2019 tax return. Stephen purchased and moved into home 2 on the same day. Assuming Stephen lives in home 2 as his principal residence until he sells it, which of the following statements is true? Multiple Choice Under no circumstance will Stephen be allowed to exclude gain on home 2 If he sells home 2 in 2020 Stephen will be eligible to exclude gain on home 2 only if he waits until 2024 to sell it. In certain circumstances, Stephen may be able to exclude gain on home 2 even if he sells home 2 in 2019. None of the choices are correct

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