Carlos, Who Is Single, Sells His Personal Residence on November

question 22

Essay

Carlos, who is single, sells his personal residence on November 5, 2019, for $400,000.His adjusted basis was $125,000.He pays realtor's commissions of $20,000.He had owned and occupied the residence for 12 years.Having decided that he no longer wants the burdens of home ownership, he invests the sales proceeds in a mutual fund and enters into a 1-year lease on an apartment.The detriments of renting, including a crying child next door, cause Carlos to rethink his decision.Therefore, he purchases another residence on November 6, 2020, for $275,000.Is Carlos eligible for exclusion of gain treatment under § 121 (exclusion of gain on sale of principal residence)? Calculate Carlos's recognized gain and his basis for the new residence.

Analyze the events of 1968 within the context of the civil rights and anti-war movements.

Describe President Kennedy's approach to the Vietnam War and its historical significance.

Compare and contrast the civil rights movement in the North and the South in terms of methods, leadership, and issues addressed.

Examine John F. Kennedy's foreign policy agenda and its effectiveness in countering communist influence.

---

Definitions:

Interorganizational Agreements

Formal agreements between two or more organizations to cooperate on certain projects or share resources.

Mechanistic Organization

A highly structured and efficient organization form, characterized by rigid hierarchies, clear roles, and centralized decision-making.

Status Quo

The current status or circumstances, typically used to denote a scenario that has not altered.

Organization Design

The process of shaping an organization's structure and roles to align with its strategy, goals, and culture to enhance efficiency and effectiveness.