McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver

Exercise 68

A taxpayer purchases and lives in a home for a year.The home appreciates in value by $50,000.The taxpayer sells the home after her employer transfers her to an office in a nearby city.The taxpayer buys a new home.What information do you need to obtain to determine whether the taxpayer is allowed to exclude the gain on the sale of the first home