In Certain Circumstances, a Taxpayer Who Does Not Meet the Ownership

question 78

True/False

In certain circumstances, a taxpayer who does not meet the ownership and use tests may still be allowed to exclude the entire realized gain on the sale of a principal residence.

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Definitions:

Major News Media

The main means of mass communication (broadcasting, publishing, and the Internet) regarded collectively, often referenced for widespread dissemination of news and information.

Fairness Doctrine

A former policy in the United States that required the holders of broadcast licenses to present controversial issues of public importance in a manner that was honest, equitable, and balanced.

Democratic Sweep

A scenario in which the Democratic Party wins a majority of the seats in both chambers of Congress and the presidency, leading to potential for significant policy changes.

Media Balanced

The principle that media should present information in a fair, unbiased, and impartial manner.