The Maximum Amount of the § 121 Gain Exclusion on Sale

question 38

True/False

The maximum amount of the § 121 gain exclusion on sale of a principal residence is $250,000 for a single individual and $500,000 for a married couple.

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Definitions:

(S)-3-chloro-3-methylhexane

A chiral compound with a specific three-dimensional arrangement around the chiral center, designated by the (S) configuration.

Asymmetric Carbon

A carbon atom bonded to four different atoms or groups of atoms, making it a chiral center.

R or S

Notation used in chemistry to describe the absolute configuration of chiral centers in molecules, indicating the spatial arrangement of atoms.

Asymmetric Carbon Atoms

Carbon atoms bonded to four different groups, leading to chiral molecules that can exist as enantiomers.