All of the Following Statements Are True with Regard to Personal

question 68

Multiple Choice

All of the following statements are true with regard to personal residences except

• A)temporarily renting property that was formerly the taxpayer's principal residence does not automatically preclude the use of Sec.121.
• B)to qualify for favorable tax treatment under Sec.121,the residence must be either the taxpayer's principal residence or a secondary residence.
• C)in the case of married taxpayers,an individual may claim the exclusion even if the individual's spouse used the exclusion within the past two years.
• D)houseboats,house trailers,and condominium apartments may qualify as a principal residence.

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Definitions:

Catatonic Schizophrenia

A subtype of schizophrenia characterized by disturbances in movement, including stupor, rigidity, or posturing, and can also include periods of agitation.

DSM-5 Revision

An updated edition of the Diagnostic and Statistical Manual of Mental Disorders, reflecting changes and advancements in the understanding and classification of mental health conditions.

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from reality and personal relationships into fantasy and delusion.

Attention-Deficit/Hyperactivity Disorder

A neurodevelopmental disorder characterized by issues with attention, hyperactivity, and impulsiveness.