Question: please help me figure out the answer that I got incorrect Exercise 15-22 (Algorithmic) (LO. 4) Omar, who is single, sold his principal residence on
Exercise 15-22 (Algorithmic) (LO. 4) Omar, who is single, sold his principal residence on April 10,2022 , and excluded the realized gain under $121 (exclusion on the sale of a principal residence), On April 12, 2022, he purchased another principal residence, which he sells on January 12, 2023, for a realized gain of $48,600. Based on each selling reason listed below, indicate if Omar can exclude the January 2023$48,600 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 " 0" ". Do not round intermediate calculations. Feedback Theck 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. Exercise 15-22 (Algorithmic) (LO. 4) Omar, who is single, sold his principal residence on April 10,2022 , and excluded the realized gain under $121 (exclusion on the sale of a principal residence), On April 12, 2022, he purchased another principal residence, which he sells on January 12, 2023, for a realized gain of $48,600. Based on each selling reason listed below, indicate if Omar can exclude the January 2023$48,600 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 " 0" ". Do not round intermediate calculations. Feedback Theck 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
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