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:

Pour

Pour refers to the act of flowing or transferring a liquid from one container to another.

Intravenous

Pertaining to the administration of drugs, fluids, or nutrients directly into a vein.

Parenteral

Pertaining to medical treatments not administered through the digestive tract, often involving injections through intravenous, intramuscular, or subcutaneous routes.