SPECIAL PROVISIONS FOR GAIN ON THE SALE OF TAXPAYER'S RESIDENCE

Lessons:
1.	GENERAL PRINCIPLES
2.	EXEMPTIONS - FILING STATUS
3.	THE TAX COMPUTATION
4.	GROSS INCOME EXCLUSIONS AND INCLUSIONS
5.	GROSS INCOME EXCLUSIONS AND INCLUSIONS (Cont'd)
6.	GAIN OR LOSS ON THE SALE OR EXCHANGE OF PROPERTY
7.	BASIS
8.	CAPITAL GAINS AND LOSSES
9.	BUSINESS DEDUCTIONS
10.	OTHER ALLOWABLE DEDUCTIONS
11.	DEPRECIATION, ACCELERATED COST-RECOVERY, DEPLETION AND AMORTIZATION
12.	BUSINESS AND CASUALTY LOSSES
13.	BAD DEBTS
14.	SELF-EMPLOYMENT TAX
15.	ESTIMATED TAX
16.	PAYROLL TAXES INCOME TAX WITHHOLDING
17.	OTHER PAYROLL TAXES
18.	TAX CREDITS
19.	SPECIAL PROVISIONS FOR GAIN ON THE SALE OF TAXPAYER'S RESIDENCE
20.	MISCELLANEOUS SPECIAL PROVISIONS

Assignment 19

SPECIAL PROVISIONS FOR GAIN ON THE SALE OF TAXPAYER'S RESIDENCE

Contents

Introduction - Reason for the Special Provisions 1901

Gains on Sales or Exchanges Before May 7, 1997 1902

Nonrecognition of Gain (Section 1034) 1903

How the Sec. 1034 Gain is Reported 1904

Exclusion of Gain by Taxpayers 55 and Over (Section 121) 1905

Gains on Sales or Exchanges After May 6, 1997 1906

Reduced Exclusion 1907

Transitional Rules 1908