A single taxpayer may
A)
not exclude from current income any of the capital gain on the sale of a home.
B)
exclude up to $250,000 of the capital gain every time he or she sells a home as long as they have lived in the home for a period of two years.
C)
exclude up to $250,000 of the capital gain every time he or she sells a home only if they are at least 55 years of age.
D)
exclude all of the capital gain on the sale of a home; however, this exclusion may only be taken once in a lifetime.
B
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