Which of the following is/are correct regarding the sale of a principal residence?
I. A single taxpayer can only use the $250,000 exclusion once every 3 years.
II. Married taxpayers who both meet the ownership and use tests and file jointly can each exclude $250,000 of gain ($500,000 total) on the sale of their principal residence
a. Only statement I is correct.
b. Only statement II is correct.
c. Both statements are correct.
d. Neither statement is correct.
b
Business
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While computing purchasing power, a cost of living index takes into account housing, food and groceries, transportation, utilities, health care, and miscellaneous expenses
Indicate whether the statement is true or false a. True b. False
Business
A location model that looks at the problem of serving various demand points from multiple supply points at the lowest cost is the ________
Fill in the blank(s) with the appropriate word(s).
Business