In Order to Be Eligible to Exclude Gain on the Sale

question 86

Multiple Choice

In order to be eligible to exclude gain on the sale of a principal residence, the taxpayer must meet which of the following test(s) ?

• A)Rental test.
• B)Use test.
• C)Ownership test.
• D)Business use test.
• E)Ownership and use test.

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Definitions:

Latex Gloves

Elastic and disposable gloves made from natural rubber latex, commonly used for medical procedures and food handling for protection against contamination.

Ergonomic Hazard

Risks of physical strain and injury related to the design and use of equipment, workplace layout, and work processes.

Chemical Hazard

Any chemical substance that can cause harm to individuals or the environment when it is released or during its use.

Physical Hazard

Any factor within the environment that can potentially cause harm or adverse health effects to individuals.