Byron, Who Lived in New Hampshire, Acquired a Personal Residence

question 212

Essay

Byron, who lived in New Hampshire, acquired a personal residence ten years ago when he was 52 years old. During this period he has occupied the residence for only eight months (out of 12) each year due to winter vacations in Florida. Is Byron eligible for exclusion of gain under § 121?

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Definitions:

Ischemic Heart Disease

A disease characterized by reduced blood supply to the heart, often leading to chest pain or heart attack.

World Health Organization

An agency of the United Nations established in 1948, responsible for providing leadership on global health matters, shaping the health research agenda, setting norms and standards, articulating evidence-based policy options, providing technical support to countries, and monitoring and assessing health trends.

Stroke

A medical condition where poor blood flow to the brain results in cell death, causing symptoms like paralysis, difficulty speaking, and understanding speech.

Deaths Worldwide

The total number of fatalities occurring across the globe, often used in statistics for public health and demography.