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

question 78

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:

Somatic Nervous System

Part of the peripheral nervous system that handles voluntary control of body movements through control of skeletal muscles.

Skin, Muscles, and Joints

The bodily structures that respectively protect the body, facilitate movement, and connect bones, playing crucial roles in the human body's functionality.

Corpus Callosum

The corpus callosum is a large band of nerve fibers that connects the left and right hemispheres of the brain, facilitating interhemispheric communication.

Split-Brain Procedure

A surgical operation that involves cutting the corpus callosum, aiming to reduce severe epileptic seizures but resulting in the separation of the brain's hemispheres.