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 a rate of 25%.
C) be taxable at the appropriate short-term capital gains rate.
D) be taxable except for the first $250,000 of the gain.
E) not be taxable because this is a job-related move.
Correct Answer:
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