For Determining Whether a Taxpayer Qualifies to Exclude Gain on the Sale

question 50

True/False

For determining whether a taxpayer qualifies to exclude gain on the sale of a principal residence, the periods of ownership and use need not be continuous nor do they need to cover the same two-year period.

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Definitions:

Coalition Tactics

Strategies used by individuals or groups to form alliances in order to achieve a common goal, often seen in politics and organizational behavior.

Influence

The ability to impact the personality, growth, or actions of an individual or entity, or the impact in itself.

Positive Reinforcement

A technique used to encourage desired behavior by rewarding positive actions.

Negative Reinforcement

A behavioral strategy that involves the removal of an aversive stimulus following a desired behavior to increase the frequency of that behavior.