Answer:
$0
Explanation:
A single taxpayer like Myles, can exclude up to $250,000 in capital gains when selling their house if they meet the following criteria:
- have owned and lived in the house for at least 2 of the last 5 years ⇒ Myles only owned and lived in the house for 18 months, so he doesn't qualify.
- you can only use this exemption once every 2 years
Answer:
The narrator calls Della and Jim "the most wise" for each giving up their most valuable items for each other even though giving up their most precious possession ruined one another's gift.
