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:

Feign Injury

To pretend or simulate having an injury, often to avoid duty or work or gain sympathy.

Hatchlings

Young animals that have recently emerged from their eggs.

Inherited Ability

Inherited ability refers to traits and skills that are passed down genetically from parents to offspring, influencing aspects like intelligence, physical abilities, and predispositions to certain talents or conditions.

Many Generations

The term refers to multiple successive generations within families or societies.