Darren (Single)purchased a Home on January 1,2015,for $400,000

question 59

Essay

Darren (single)purchased a home on January 1,2015,for $400,000.Darren lived in the home as his primary residence until January 1,2017,when he began using the home as a vacation home.He used the home as a vacation home until January 1,2018.(He used a different home as his primary residence from January 1,2017,to January 1,2018.)On January 1,2018,Darren moved back into the home and used it as his primary residence until January 1,2019,when he sold the home for $500,000.What amount of the $100,000 gain Darren realized on the sale must he recognize for tax purposes in 2019?

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Arbitrary Dismissal

The termination of an employee's contract without just reason or through a process lacking fairness and due process.

Broad Protections

Wide-ranging safeguards that are implemented to ensure the safety, rights, and interests of individuals or groups.

Fair Treatment

The equitable and impartial handling of all individuals in various contexts, ensuring equal opportunity and avoidance of discrimination.

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