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)

Answer rating: 100% (QA)

False If the second sale ... View the full answer