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Primary Home Sale Gain Exclusion
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ChiHoang
Level 5
a month ago
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Wife's name is not on the deed only the husband's name, but both live in their home more than 2 years of the last 5 years, can they take $500,000 capital gain exclusion on the sale of their primary home ?
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George4Tacks
Level 15
a month ago
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Eligibility Step 2—Ownership
Determine whether you meet the ownership requirement.
If you owned the home for at least 24 months (2 years) out of the last 5 years leading up to the date of sale (date of the closing), you meet the ownership requirement. For a married couple filing jointly, only one spouse has to meet the ownership requirement.
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