To Qualify for the § 121 Exclusion, the Property Must

question 7

True/False

To qualify for the § 121 exclusion, the property must have been used by the taxpayer for the five years preceding the date of sale and owned by the taxpayer as the principal residence for the last two of those years.

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Definitions:

Psychoanalytic Therapists

Therapists who use theories and techniques based on the psychoanalytic tradition, focusing on unconscious processes influencing behavior.

Narrative Therapies

An approach in psychotherapy that centers on individuals narrating their experiences, aiming to help them reframe their stories in a more positive light.

Length

The measurement or extent of something from end to end; often a physical dimension but can also refer to time or duration in different contexts.

Narrative Therapy

A form of psychotherapy that centers on the patient's narrative or personal story to help identify their values and the skills associated with them.