A taxpayer who sells his or her principal residence at a realized loss can elect to recognize the loss even if a qualified residence is acquired during the statutory time period.

Name: A taxpayer who sells his or her principal residence at a realized loss can elect to recognize the loss even if a qualified residence is acquired during the statutory time period.
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Question

Quizplus · Accepted Answer

A taxpayer cannot recognize a loss on the sale of their principal residence under current tax law.

A Taxpayer Who Sells His or Her Principal Residence at a Realized