One reason Congress expanded the exclusion of gain on the sale of a principal residence and eliminated

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One reason Congress expanded the exclusion of gain on the sale of a principal residence and eliminated the deferral provision was to eliminate the need for many taxpayers to keep records of capital improvements that increase the basis of their residence. Why might taxpayers still need to maintain such records to substantiate the adjusted basis of their principal residence?
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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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