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Shantel Owned and Lived in a Home for Five Years

question 105

Multiple Choice

Shantel owned and lived in a home for five years before marrying Daron.Shantel and Daron lived in the home for two years before selling it at a $700,000 gain.Shantel was the sole owner of the residence until it was sold.How much of the gain may Shantel and Daron exclude?

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Definitions:

Toilet Trained

The process by which young children learn to use the toilet for urination and defecation independently.

Parental Death

The loss of a parent, which is a profoundly impactful event in a person's life, often resulting in significant emotional and psychological adjustments.

Cognitive Dissonance Theory

The theory that we act to reduce the discomfort (dissonance) we feel when two of our thoughts (cognitions) are inconsistent. For example, when we become aware that our attitudes and our actions clash, we can reduce the resulting dissonance by changing our attitudes.

Leon Festinger

A psychologist best known for his theory of cognitive dissonance, which describes the discomfort experienced when holding conflicting ideas or beliefs.

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