In Order for the Gain on the Sale of a Personal

question 51

True/False

In order for the gain on the sale of a personal residence to be excluded under Section 121,a replacement residence must be purchased within two years.

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Definitions:

Dizygotic Twins

Also known as fraternal twins, these siblings result from the fertilization of two separate eggs by two separate sperm and share about 50% of their DNA.

Genes

Structures made of DNA that carry the genetic information necessary for the development and functioning of an organism.

Teratogens

Agents or factors that can cause malformation or defects in an embryo or fetus during pregnancy.

Embryo

Describes the early stage of development in multicellular organisms after fertilization and before fetal stage, in humans, it covers the first eight weeks of development post-conception.