The Maximum Amount of the § 121 Gain Exclusion on Sale

question 38

True/False

The maximum amount of the § 121 gain exclusion on sale of a principal residence is $250,000 for a single individual and $500,000 for a married couple.

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Definitions:

Atomic Mass

Average of atom mass units for all the isotopes of an atom.

Ionic Compound

A chemical compound composed of ions held together by ionic bonds, typically formed between metal and non-metal elements.

Calcium Chloride

A chemical compound used in various applications, including as a de-icing agent, in food preservation, and in laboratory settings to provide a source of calcium ions.

Extra Electrons

Additional electrons that surpass the baseline number expected in an atom or molecule, often leading to negative charge and chemical reactivity.