The Taxpayer Must Be Occupying the Residence at the Time

question 20

True/False

The taxpayer must be occupying the residence at the time of the sale in order for Sec.121 to apply.

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Definitions:

Spatial Relations

The ability to perceive the positions of objects in relation to oneself and to each other.

Language

A system of communication used by a particular country or community.

Mathematics

The abstract science of numbers, quantity, and space, either as abstract concepts (pure mathematics) or as applied to other disciplines such as physics and engineering (applied mathematics).

Comprehension

The mental process of understanding, integrating, and grasping meanings from information or experiences.