To Qualify for the § 121 Exclusion, the Property Must

question 165

True/False

To qualify for the § 121 exclusion, the property must have been owned by the taxpayer for the 5 years preceding the date of sale and used by the taxpayer as the principal residence for the last 2 of those years.

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Definitions:

Dimensional Approach

A method of understanding mental health conditions along a continuum rather than as distinct categories, suggesting a range of severity for symptoms.

Dichotomous Classification

The division or classification of items into two distinct, mutually exclusive categories.

Key Personality Traits

Fundamental aspects or characteristics that constitute an individual's distinctive patterns of thoughts, behaviors, and emotions.

Borderline Personality Disorder

A syndrome of emotional instability affecting mood regulation, behavior, and the nature of interpersonal relationships.