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Level 3
June 7, 2024

joint home was sold in year of divorce in both names.

  • June 7, 2024
  • 2 replies
  • 11 views

The escrow is in both names and the home was sold in year of divorce. Both lived in it for more than 10 years. How can I get the $500,000 exclusion for my client who files HOH

    2 replies

    IRonMaN
    Level 15
    June 7, 2024

    Why would your client get the full exclusion and the ex get zilch?

    Slava Ukraini!
    Level 3
    June 7, 2024

    Only she is listing sale on tax return

    BobKamman
    Level 15
    June 7, 2024

    I hope you're not going to sign that one.  

    qbteachmt
    Level 15
    June 8, 2024

    "Only she is listing sale on tax return"

    The way one person gets the double-exclusion is for the other to Die:

    "...allows a surviving spouse up to two (2) years from their spouse's date of death of to exclude up to $500,000 of gain from the sale of their primary residence."

    So, they should undo the divorce, obviously. Then he must die (hey, I didn't state she had to be the one to make it happen). Then sell the house and still file jointly.

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