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Author Question: Jenna, who is single, sold her principal residence on December 1, 2015, and excluded the $150,000 ... (Read 46 times)

Pea0909berry

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on: Sep 13, 2020
Jenna, who is single, sold her principal residence on December 1, 2015, and excluded the $150,000 gain because she met the ownership and usage requirements under Sec. 121. Jenna purchased another residence in Pensacola on January 1, 2016 that she occupied until July 1, 2016 when she receives a new job offer from an employer in Miami. She sells the Pensacola residence on October 1, 2016 and realizes a gain of $40,000. Jenna may exclude what amount of the gain from the sale on October 1, 2016?
◦ $0
◦ $10,000
◦ $20,000
◦ $40,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by Pea0909berry on Sep 13, 2020

johnharpe

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Pea0909berry

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

milbourne11

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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