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 […]
Prepare a calculation to determine the best use of the principal residence exemption. Clearly indicate the years designated to each property included in your analysis.
ASSIGNMENT Using MICROSOFT Excel ONLY, respond to the following requirements. All work must be shown to obtain full marks. Prepare a critical thinking analysis to determine whether the sale of the cottage would be considered business income or a capital gain. If you determine the sale would be a capital gain, then determine whether it […]