At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

If a gain realized on the sale of a personal residence is above the allowed exclusion, the excess may be deferred through a reduction in the basis of the new residence.
O True
O False