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Time Remaining 1 hour 24 minutes 38 seconds01:24:38\ Item 8\ Time Remaining 1 hour 24 minutes 38 seconds01:24:38\ Ethan (single) purchased his home on July 1, 2013. He lived in the home as his principal residence until July 1, 2020, when he moved out of the home, and rented it out until July 1, 2022, when he moved back into the home. On July 1, 2023, he sold the home and realized a $198,500 gain.
What amount of the gain is Ethan allowed to exclude from his gross income?
Related Book For
Taxation Of Individuals 2017
ISBN: 9781259548666
8th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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