Taxpayer Owns a Home in Atlanta

True/False

Taxpayer owns a home in Atlanta.His company transfers him to Chicago on January 2,2014,and he sells the Atlanta house in early February 2014.He purchases a residence in Chicago on February 3,2014.On December 15,2014,taxpayer's company transfers him to Los Angeles.In January 2015,he sells the Chicago residence and purchases a residence in Los Angeles.Because multiple sales have occurred within a two­year period,§ 121 treatment does not apply to the sale of the second home.