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If a Taxpayer Owns More Than One Home,she Can Designate

question 60

True/False

If a taxpayer owns more than one home,she can designate the home that will be considered her principal residence for purposes of the Sec.121 exclusion.

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Definitions:

Chemical Factory

An industrial site dedicated to producing chemicals where raw materials are processed and combined through chemical reactions.

Carpet Factory

A manufacturing facility where carpets and rugs are produced, typically involving various stages of design, weaving, and finishing.

Global Corporation

A multinational enterprise or multinational corporation that conducts commercial transactions across national boundaries.

Multinational Corporation

A large company that operates in several countries around the world, often centralizing management in a specific home country while adapting products and practices to local markets.

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