If One Spouse Sells a Home and Excludes the Gain

question 12

Multiple Choice

If one spouse sells a home and excludes the gain on the sale,the gain on the sale of a residence by the other spouse is:

• A)Never excluded.
• B)Excluded up to $500,000.
• C)Excluded up to $250,000.
• D)Excluded up to $250,000 plus any gain exclusion not used by the first spouse.

---

Definitions:

Overhead Transparencies

Transparent sheets used for projecting images or text onto a screen or surface using an overhead projector.

High-Tech

Refers to the latest technology and the most advanced technological developments in a field.

Presentation Equipment

Tools and devices used during presentations, such as projectors, screens, microphones, and laptops, to aid in delivering content.

Visuals

Graphic elements such as images, charts, and videos used to convey information, illustrate concepts, or enhance communication.