Question: Explain what the Section 1 2 1 Gain Exclusion is and how it can benefit a homeowner when selling a home. If a homeowner sells

Explain what the Section 121 Gain Exclusion is and how it can benefit a homeowner when selling a home.
If a homeowner sells their home and then decides to rent:
Explain the tax advantages and disadvantages of renting, and the potential expenses that can be deducted.
What tax forms are used to report the income/expenses when selling a home and when renting?

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