A Taxpayer Is Able to Use § 121 Even If

question 19

True/False

A taxpayer is able to use § 121 even if he or she temporarily rents his or her primary residence while trying to sell it.

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Definitions:

Shares

Represent units of ownership in a company or financial asset, granting the holder a part of the corporation's assets and profits.

Total Return

The overall financial gain or loss from an investment, taking into account both capital appreciation and dividends or interest.

Capital Gain

The profit from selling a capital asset for more than its purchase price.