If One Spouse Sells a Home and Excludes the Gain

question 12

Multiple Choice

If one spouse sells a home and excludes the gain on the sale,the gain on the sale of a residence by the other spouse is:

• A)Never excluded.
• B)Excluded up to $500,000.
• C)Excluded up to $250,000.
• D)Excluded up to $250,000 plus any gain exclusion not used by the first spouse.

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Definitions:

Ethmoid

A porous bone located between the eyes and forming part of the nasal cavities, contributing to the structure of the face and protection of the brain.

Sacral Hiatus

An opening at the base of the spine in the sacral bone, through which nerves and membranes can pass.

Superior Articular Facet

The top part of a vertebra that interacts with the vertebra above it to form a joint, aiding in the flexibility and movement of the spine.

Median Sacral Crest

A bony ridge located on the posterior surface of the sacrum, formed by the fusion of spinous processes of sacral vertebrae.