Hi there!
I have heard about the capital gains tax and buying/selling a house within two years of owning it...
Long story short, my ex-husband and I built our first home and moved in June of 2021. We separated in September of 2022, got divorced and sold our house in March of 2023.
I do not plan to buy another home in 2023. If I am subjected to the capital gains tax, what does that look like? Will both my ex-husband and I be subjected to the tax? We split the profit on our home 50/50.
- Does getting divorced effect whether we will be subjected to the capital gains tax?
- If we are subjected to it, how much can we expect to pay?
- We split the profit 50/50 and both got a little over $18K.
- My ex-husband's name was not on the mortgage, but was on the deed. Will he be subjected to the tax as well?
Any direction you can provide is much appreciated!
