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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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The complete and unconditional entitlements that individuals are guaranteed by law or society, without any discrimination.

Naturalized

Describes the process by which a non-citizen in a country acquires its nationality, gaining the rights and responsibilities of citizenship.

Segregation

The enforced separation of different racial groups in a country, community, or establishment, often denying one group access to rights and privileges.

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Pertains to the state of possessing consistent earnings or alternative means to sustain a lifestyle at present and in the upcoming times.

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