Question
The exclusion of gain on the sale of a residence applies to only one sale every two years. The taxpayer is always ineligible for the
The exclusion of gain on the sale of a residence applies to only one sale every two years. The taxpayer is always ineligible for the exclusion if, during the two-year period ending on the date of sale of the present home, the taxpayer sold another home at a gain and excluded all or part of that gain no matter the reason for the sale. (True or False)
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Federal Taxation 2016 Comprehensive
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
29th Edition
134104374, 978-0134104379
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