A Taxpayer Must Have Owned and Lived in a Personal

question 24

True/False

A taxpayer must have owned and lived in a personal residence at least two of the last five years in order to qualify for the maximum exclusion of gain on sale of that residence.

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Definitions:

Circumcision

A surgical procedure involving the removal of the foreskin from the human penis, often performed for religious or health reasons.

FTA-ABS

Fluorescent treponemal antibody absorption, a blood test used for detecting antibodies to the bacterium Treponema pallidum, the causative agent of syphilis.

Syphilis

A sexually transmitted infection caused by the bacterium Treponema pallidum, characterized by distinct stages and potentially serious long-term symptoms if untreated.

Ejaculation

The expulsion of semen from the body during sexual climax.