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Which of the following statements is false? A.A taxpayer's home is a capital asset. B.A loss on the sale of a residence is a non-deductible
Which of the following statements is false?
A.A taxpayer's home is a capital asset.
B.A loss on the sale of a residence is a non-deductible personal living expense.
C.The current provision of IRC 121 that prevents $250,000 ($500,000 for married taxpayers filing jointly) of gain from being taxed is a mere postponement (deferral) of taxable gain.
D.All of the above is true.
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