If a Principal Residence Is Sold Before Satisfying the Ownership

question 23

True/False

If a principal residence is sold before satisfying the ownership and use tests,part of the gain may be excluded if the sale is due to a change in employment,health,or unforeseen circumstances.

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Definitions:

Initial Stage

The earliest phase in a process or sequence, often characterized by the first signs or actions that mark the beginning of something.

Conditioned Response

A learned response to a previously neutral stimulus that becomes associated with an unconditioned stimulus.

Fear

An emotional response to perceived threats or dangers, resulting in physiological and behavioral reactions.

Conditioned Stimulus

A previously neutral stimulus that, after being repeatedly paired with an unconditioned stimulus, begins to trigger a conditioned response.