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Author Question: Under what circumstances can a taxpayer obtain a partial exclusion if a home is sold before the use ... (Read 51 times)

codyclark

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on: Sep 13, 2020

Question 1

Pierce, a single person age 60, sold his home this year. He had lived in the house for 10 years. He signed a contract on March 4 to sell his home.



Based on these facts, what is the amount of his recognized gain?
◦ $0
◦ $25,000
◦ $40,000
◦ $275,000

Question 2

Under what circumstances can a taxpayer obtain a partial exclusion if a home is sold before the use and ownership tests are satisfied?
◦ change in employment that meets the requirement for a moving expense deduction
◦ increased traffic due to widening of a road
◦ birth of one child
◦ divorce
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by codyclark on Sep 13, 2020

quynhmickitran

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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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codyclark

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Reply 2 on: Sep 13, 2020
Wow, this really help

gcook

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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