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C
ChiHoang
Level 6
September 25, 2025
Question

Primary Home Sale Gain Exclusion

  • September 25, 2025
  • 1 reply
  • 11 views

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 ?

1 reply

George4Tacks
George4Tacks
Level 15
September 25, 2025

IRS Pub 523

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.

Answers are easy. Questions are hard!
    C
    ChiHoangAuthor
    Level 6
    September 27, 2025

    Thank you

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