At Most, a Taxpayer Is Allowed to Exclude Gain on the Sale

question 16

True/False

At most, a taxpayer is allowed to exclude gain on the sale of a principal residence once every five years no matter the circumstances.

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Definitions:

Operant Conditioning

A training technique in which a conduct's vigor is adjusted by means of incentivization or discipline.

Thorndike's Experiments

Early 20th-century experiments conducted by Edward Thorndike focusing on learning and behavior in animals, leading to the formulation of the law of effect.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired: a response which is initially elicited by the second stimulus is eventually elicited by the first stimulus alone.

Conditioned Response (CR)

The learned reaction or response to a previously neutral stimulus, after the stimulus has been repeatedly presented along with an unconditioned stimulus.