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The Maximum Amount of the § 121 Gain Exclusion on Sale

question 38

True/False

The maximum amount of the § 121 gain exclusion on sale of a principal residence is $250,000 for a single individual and $500,000 for a married couple.


Definitions:

Sales Presentation

A detailed pitch or demonstration given to potential customers with the aim of promoting and selling a product or service.

Severity Rate

A measure used to gauge the seriousness of accidents or incidents by considering the number of lost work days relative to the number of incidents.

Work-Related Injuries

Injuries or illnesses that occur as a result of activities or conditions in the workplace.

On-The-Job Accident

An unexpected event in the workplace that results in personal injury or property damage.

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