Charlotte Purchases a Residence for $105,000 on April 13,2004

question 49

Multiple Choice

Charlotte purchases a residence for $105,000 on April 13,2004.On July 1,2014,she marries Howard and they use Charlotte's house as their principal residence.If they sell their home for $390,000,incurring $20,000 of selling expenses and purchase another residence costing $350,000.Which of the following statements is/are correct concerning the sale of their personal residence? ​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Red Shirts

Volunteers who followed the Italian patriot and general Giuseppe Garibaldi during his campaigns for the unification of Italy in the 19th century.

Giuseppe Garibaldi

An Italian general, patriot, and nationalist who played a key role in the unification of Italy, known for his leadership in the campaign and battles that consolidated different states of the Italian Peninsula into a single nation.

Piedmont-Sardinian Army

The military forces of the Kingdom of Piedmont-Sardinia, pivotal in the unification of Italy in the 19th century.

German Parliament

The legislative body in Germany, known as the Bundestag, responsible for passing laws and representing the German people.