The Maximum Amount of the § 121 Gain Exclusion on Sale

question 38

True/False

The maximum amount of the § 121 gain exclusion on sale of a principal residence is $250,000 for a single individual and $500,000 for a married couple.

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Definitions:

Active Listening

The practice of fully concentrating, understanding, responding, and remembering what is being said during communication.

High-Context Cultures

Societies where communication is heavily reliant on context, nonverbal cues, and the relationships between speakers rather than explicit words.

Low-Context Culture

A culture in which a written agreement, such as a contract, can be taken at face value.

Illustrators

In communication, illustrators are gestures that accompany speech to clarify or emphasize the spoken words.