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Which of the following is/are correct regarding the sale of a principal residence? Oa. A single taxpayer can only use the $250,000 exclusion once every

Which of the following is/are correct regarding the sale of a principal residence? Oa. A single taxpayer can only use the $250,000 exclusion once every 3 years. Married taxpayers who both meet the ownership and use tests and file jointly can each exclude $250,000 of gain ($500,000 total) on the sale of their principal residence. Both statements are correct. None of the statements are correct

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