Examlex
Distinguish between basic and applied psychology.
Qualifying Replacement Property
Property that is acquired to replace a property involved in an involuntary conversion, and meets certain criteria to defer recognition of gain for tax purposes.
Exclusion of Gain
A provision that allows taxpayers to exclude some or all of the gains from the sale of certain assets from their taxable income.
Two-year Period
A specific timeframe often referenced in tax or legal contexts, which might relate to limitations, qualifications, or assessments.
Involuntary Conversion
A forced exchange of property or assets, often due to theft or natural disaster, that may have tax implications.
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