Under What Circumstances May a Partial § 121 Exclusion Be

question 10

Essay

Under what circumstances may a partial § 121 exclusion be available even though the taxpayer has used the § 121 exclusion within the two-year period preceding the sale of the current residence?

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Definitions:

Taste Cells

Specialized sensory cells located on the taste buds that are responsible for detecting the five basic tastes: sweet, sour, salty, bitter, and umami.

Innermost Layer

The deepest layer within a structure or object, often referring to the inner layer of bodily organs or the Earth.

Equilibrium Receptors

Sensory receptors that help maintain balance and spatial orientation by detecting changes in position or acceleration.

Semicircular Canals

Three looping structures in the inner ear that are instrumental in maintaining balance by sensing rotational movements of the head.