rbynaker
Level 14
03-05-2022
10:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Section 1212(b)(3):
https://www.law.cornell.edu/uscode/text/26/121
Application to only 1 sale or exchange every 2 years
Subsection (a) shall not apply to any sale or exchange by the taxpayer if, during the 2-year period ending on the date of such sale or exchange, there was any other sale or exchange by the taxpayer to which subsection (a) applied.