A taxpayer who sells her personal residence in 2019 may exclude some or all of the gain

Question:

A taxpayer who sells her personal residence in 2019 may exclude some or all of the gain on the sale if the residence was owned and lived in for

a. At least four years before the sale date.

b. Any two years of a five-year period before the sale.

c. Any of the last four years of an eight-year period before the sale.

d. At least one year prior to the sale date.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

Question Posted: