Assignment
A-E Question 1: A married couple has lived in their home (principal residence) for three years and qualifies as a §121 exclusion. The couple decides to move to another state where the husband has recently started a new job, and purchase a new principal residence. The couple decides one year later to move into a bigger house across town. Will the sale of their old residence qualify under §121? Justify your answer.
Using the information below, explain will the sale of their old residence qualify under §121?
