Create hardship for taxpayers in certain situations

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Reference no: EM131307882

In regard to Section 121, Sale of a Residence, the two-year ownership and use requirement and the "only once every two years" provision could create a hardship for taxpayers in certain situations that are beyond their control. The IRS allows three exceptions to this rule.

Your response must include:

Explanation of each exception

Full example of each exception

Reference no: EM131307882

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