Question

The exclusion of gain on the sale of a residence applies to only one sale every two years. The taxpayer is always ineligible for the exclusion if, during the two-year period ending on the date of sale of the present home, the taxpayer sold another home at a gain and excluded all or part of that gain no matter the reason for the sale.

Group starts

True or False

Answer 1

Answer:

The given statement is False.

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