On November 1, Year 1, Jamie (Who Is Single)purchased and Moved

question 88

Multiple Choice

On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jamie was laid off from her job. On February 1, year 2, Jamie sold the home at a $35,000 gain. She sold the home because she found a new job in a different state. How much of the gain, if any, may Jamie exclude from her gross income in year 2?

• A)$0.
• B)$3,125.
• C)$31,250.
• D)$35,000.

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Definitions:

Teenage Pregnancy

Pregnancy occurring in a young woman between the ages of 13 and 19, often viewed as a societal issue.

Birth-Control

Methods or devices used to prevent pregnancy.

Planned Parenthood

Planned Parenthood is an organization that provides reproductive health care and information, including family planning and sexual health services, to millions globally.

Honesty

The quality of being truthful, sincere, and free from deceit.