Wyatt Sells His Principal Residence in December 2012 and Qualifies

question 116

True/False

Wyatt sells his principal residence in December 2012 and qualifies for the § 121 exclusion.He sells another principal residence in October 2013.Under certain circumstances Wyatt can qualify for the § 121 exclusion on the sale of the second residence.

---

Definitions:

Pounds

A unit of weight commonly used in the British imperial and United States customary systems, equal to 0.45359237 kilograms.

Kidney Transplants

A medical procedure wherein a healthy kidney is transplanted into a patient with kidney failure.

Congressional Law

Legislation that has been passed by the United States Congress and signed into law by the President.

Jury Selection

Jury selection is the process of choosing jurors from a pool of eligible candidates to make a decision in a legal case.