To Be Allowed to Exclude Gain on the Sale of a Principal

question 13

True/False

To be allowed to exclude gain on the sale of a principal residence, the taxpayer selling the home must be using the home as a principal residence at the time of the sale.

---

Definitions:

Maximum Human Life Span

The highest age that human beings are known to have lived, a subject of research and analysis in gerontology.

Infant Mortality

The death of young children under the age of 1 year, expressed per 1,000 live births and used as a standard measure of a region's health and development.

Chinese Farmer

describes a person engaged in agriculture in China, often working on small-scale family-owned farms, dealing with the challenges of modernization and policy changes.

SARS Virus

The Severe Acute Respiratory Syndrome virus is a contagious and sometimes fatal respiratory illness caused by a coronavirus.