You might be a little behind on your CPE.

The general 4-year income averaging rule expired in 1986. Currently, income averaging can only be used by farmers and fishermen for their business income and, in some cases, for lump-sum retirement plan distributions.

1986?  Time really does fly when you are having fun.

Can the gain be deferred if another home of equal or greater value is purchased?

That law was repealed in 1997.  Are you SURE you should still be preparing tax returns...........

1997?  We are getting warmer. 😁

IRMN forgot to use the sarcasm font.

• New York City places a special tax on prepared foods, so sliced bagels are taxed once as food and again as prepared food, thus creating a sliced bagel tax.
• Maine has special tax on blueberries, a valuable state resource.
• Pennsylvania has a tax on coin-operated vacuum machines at gas stations.
• States like Iowa, Pennsylvania, and New Jersey exempt pumpkins from a sales tax but only if they will be eaten and not carved.
• In 2005, Tennessee began requiring drug dealers to anonymously pay taxes on any illegal substances they sold.
• The IRS taxes stolen property. The 1040 instructions say that you should report it as stolen property. However, doing that would be self-incrimination, from which we are protected by the Constitution; therefore, one has the option of reporting it as "other income".