In Certain Circumstances, a Taxpayer Who Does Not Meet the Ownership

question 61

True/False

In certain circumstances, a taxpayer who does not meet the ownership and use tests may still be allowed to exclude the entire realized gain on the sale of a principal residence.

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Definitions:

Waviness

A form of surface irregularity characterized by wave-like deviations from a true flat surface, which can affect the function or aesthetics of the part.

Flaws

Imperfections or defects in a material or structure that can affect its strength, appearance, or functionality.

Roughness Average

A measure of the average deviations of a surface from its geometric ideal form, indicating the surface texture.

Roughness Grade

A classification system for the surface texture of objects, typically measured by the average machined surface roughness.