Exercise 15-22 (Algorithmic) (LO. 4) Jamil, who is single, sold his principal residence on April 10, 2020, and excluded the realized gain under 5 121 (exclusion on the sale of a principal residence). On April 12, 2020, he purchased another principal residence, which he sells on January 12, 2021, for a realized gain of $61,800. Based on each selling reason listed below, indicate if Jamil can exclude the January 2021 $61,800 realized gain by selecting "No, may not exclude" or "Yes, can exclude" and enter the amount of recognized gain for each. If an amount is zero, enter "o". Do not round Intermediate calculations. Amount of 5 121 exclusion Exclude or Not? No, may not exclude Amount of recognized gain a. His nolsy neighbors? 0 b. A job transfer to another city? Yes, can exclude Fendback Check My Work The tax consequences of selling a personal residence depend on several tests or requirements. In certain circumstances some of the requirements can be waived