16. A taxpayer has lived in a home for only one year and sells the home. In which of the following cases would the taxpayer be least likely allowed to take a pro-rata gain exclusion? a. There was a change in employment that requires the taxpayer to move away. b. The taxpayer has unforeseen health issues. c. The taxpayer filed for divorce. d. The taxpayer wanted to move to an area that was less prone to hurricanes.
16. A taxpayer has lived in a home for only one year and sells the home. In which of the following cases would the taxpayer be least likely allowed to take a pro-rata gain exclusion? a. There was a change in employment that requires the taxpayer to move away. b. The taxpayer has unforeseen health issues. c. The taxpayer filed for divorce. d. The taxpayer wanted to move to an area that was less prone to hurricanes.
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 24P
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Transcribed Image Text:16. A taxpayer has lived in a home for only one year and sells the home. In which of the following cases would the
taxpayer be least likely allowed to take a pro-rata gain exclusion?
a. There was a change in employment that requires the taxpayer to move away.
b. The taxpayer has unforeseen health issues.
c. The taxpayer filed for divorce.
d. The taxpayer wanted to move to an area that was less prone to hurricanes.
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