Which of the Following Statements Is False with Regard to the Ownership

question 49

Multiple Choice

Which of the following statements is false with regard to the ownership and use tests under Sec.121?

• A)The taxpayer must be occupying the residence at the time of the sale in order for Sec.121 to apply.
• B)If a principal residence is sold before satisfying the ownership and use tests,part of the gain may be excluded if the sale is due to a change in employment,health,or unforeseen circumstances.
• C)For purposes of the two-year ownership rule,a taxpayer's period of ownership includes the period during which the taxpayer's deceased spouse owned the residence.
• D)When a taxpayer receives a residence from a spouse or an ex-spouse incident to a divorce,the taxpayer's period of owning the property includes the time the residence was owned by the spouse or ex-spouse.

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Definitions:

Gardner

Refers to Howard Gardner, an American developmental psychologist best known for his theory of multiple intelligences.

General Ability

A broad measure of an individual's overall intellectual capacity or cognitive competence, often associated with IQ.

Sternberg

A psychologist known for his triarchic theory of intelligence, which posits that successful intelligence consists of analytical, creative, and practical abilities.

Analytical Intelligence

One of the three types of intelligence according to Sternberg's triarchic theory, involving the ability to analyze, evaluate, judge, compare, and contrast information.