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You Purchased and Lived in Your Home 8 Years

Question 104

Multiple Choice

You purchased and lived in your home 8 years.Now you have received an excellent promotion,but you will have to sell your home and move to another community.The capital gains on the home sold will


A) be taxable as ordinary income.
B) be taxable at the 15% tax bracket.
C) be taxable at the appropriate long-term capital gains rate.
D) not be taxable because the home was your principal residence.
E) not be taxable because this is a job-related move.

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