Correction


An article in January, “Home Free,” misstated a rule for excluding gain under IRC section 121 from the sale of a home acquired in an IRC section 1031 like-kind exchange. The home must have been held five years but does not have to be used as a principal residence for that period. The JofA regrets the error.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.