A Married Couple Filing a Joint Tax Return Is Eligible

question 95

True/False

A married couple filing a joint tax return is eligible to exclude up to $500,000 of gain realized on the sale of a personal residence if both spouses meet the ownership test and at least one spouse meets the use test.

---

Definitions:

High Control

A management style or situation characterized by strict rules and a high degree of oversight and direction.

Low Control

Situations or environments where there is minimal regulation, guidance, or command, often leading to high autonomy but potentially high uncertainty as well.

Situations

The set of circumstances or contexts in which events occur, often influencing outcomes and decisions.

Leader Behavior

Pertains to the actions, decisions, and mannerisms exhibited by an individual in a leadership position, which impact team dynamics and organizational outcomes.