The Taxpayer Can Elect to Have the Exclusion of Gain

question 53

True/False

The taxpayer can elect to have the exclusion of gain under § 121 (sale of principal residence) not apply.

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Definitions:

Clavicle

A lengthy bone that functions as a support link between the scapula and the chest bone.

Epimysium

A layer of connective tissue that surrounds skeletal muscles, providing structural support and protection.

Perimysium

A sheath of connective tissue that groups muscle fibers into bundles or fascicles within a muscle.

Endomysium

A thin layer of connective tissue that surrounds each individual muscle fiber, providing support and maintaining the spatial organization of muscle fibers.