Evaluate the pros and cons related to an exclusion of a $250000 gain for aprimar

Evaluate the pros and cons related to an exclusion of a $250000 gain for aprimary residenceand how using this residence asrental propertycould impact the gain or loss determination for the homeowner taxpayer. Recommendtax planning strategiesand what can be done to ensure that the exclusion is not lost.Under the authority of the IRSreal propertycan be seized for nonpayment of taxes. In addition the local government could confiscate personal property for public use. Analyze how involuntary conversions differ from condemnations and how to determine the basis of the property in determining the gain or loss.