Question: I need only answer not explanation. for 2 and 3 just True or False, for number 1 just answer letter 1. In which of the
1. In which of the following would the gain on selling their personal residence would be taxable for federal income tax purposes? a) After living in his house for 6 years, Fred sold his home b) After living in her house for 15 months, Gina sold it to move to a nursing home c) After living in his house for 1 year, Sean sold it because he was relocated by his employer d) After living in her house for 1 year, Mary sold it 2. Individual taxpayers are not taxed on their cancellation of debt (COD) income if their debt was forgiven as part of bankruptcy proceedings True or False? 3. In order to promote investment in local government projects, interest earned on municipal bonds are not taxable. True or False
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