The couple decides one year later to move into a bigger house across town. Will the sale of their old residence qualify under §121? Justify your answer.
A-E Question 1: A married couple has lived in their home for three years and qualifies as a §121 exclusion. The couple decides to move to another state where the husband has recently started a new job, and purchase a new principal residence. The couple decides one year later to move into a bigger house […]