Hi - Once a divorce is finalized, my understanding is each party is entitled to a $250K exclusion on the capital gains from the sale of the house (which would have been $500K is still married). I wanted to confirm 1) if this is correct, and 2) If as part of a settlement, there is an unequal split of the sales (say for the sake of example a 60/40 split).. is it possible for one party to also take a 60% of the total $500K capital gains exclusion, or is that party locked into only the $250K exclusion since the divorce was recently granted prior to the home sale? Thanks in advance.
