Wyatt sells his principal residence in December 2013 and qualifies for the § 121 exclusion.He sells another principal residence in November 2014.Under no circumstance can Wyatt qualify for the § 121 exclusion on the sale of the second residence.

Question

Quizplus · Accepted Answer

Wyatt can qualify for the § 121 exclusion on the sale of his second principal residence as long as he meets the ownership and use requirements and has not claimed the exclusion on another principal residence within the past two years.

Wyatt Sells His Principal Residence in December 2013 and Qualifies