X hits on this document

Powerpoint document

CCH Federal Taxation Basic Principles Chapter 11 Property Transactions: Nonrecognition of Gains and ... - page 31 / 66

130 views

0 shares

0 downloads

0 comments

31 / 66

CCH Federal Taxation Basic Principles

31 of  66

Sale of Home by U.S. Citizens Temporarily Working Abroad

Code section 121(a) states that the two-out-of-five-year holding period requirement is satisfied if “property has been owned and used by the taxpayer as the taxpayer’s principal residence for periods aggregating 2 years or more.”  Congress intended the word “used” to encompass something more than absentee-ownership.  Until Congress provides specific relief to U.S. citizens working abroad, the term “used” should be construed to mean something akin to physical occupancy, not an extended absence while working abroad.

Chapter 11, Exhibit 9a

Document info
Document views130
Page views132
Page last viewedSat Dec 03 05:12:10 UTC 2016
Pages66
Paragraphs719
Words5391

Comments