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Level 1
October 11, 2023
Question

Can a MFJ return limit home exclusion to $250,000 for recently married couple with two houses to sell in separate years?

  • October 11, 2023
  • 1 reply
  • 2 views
Both houses would qualify for exclusion if they had not got married
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1 reply

Level 15
October 12, 2023

If you are asking if one spouse can exclude the gain from their house, and the other spouse exclude the gain from their house, yes, each can do that on a Joint return.  It is hypothetically possible the IRS would question it, but it is allowable.