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    Federal Taxation
  4. Exam
    Exam 13: Property Transactions: Determination of Gain or Loss, basis Considerations, and Nontaxabl
  5. Question
    Wyatt Sells His Principal Residence in December 2015 and Qualifies
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Wyatt Sells His Principal Residence in December 2015 and Qualifies

Question 1

Question 1

True/False

Wyatt sells his principal residence in December 2015 and qualifies for the § 121 exclusion.He sells another principal residence in November 2016.Under no circumstance can Wyatt qualify for the § 121 exclusion on the sale of the second residence.

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