@Cheryl100 wrote:
Can that money offset capital gains taxes when I receive my portion of house sale?
Repair expenses on property held for personal use are not deductible.
@Cheryl100 wrote:
....as a single filer, am I not liable for any taxes if my portion is less than $250k?
You cannot use the home sale exclusion ($250,000 per Section 121) unless you owned the home and used the home as your principal residence for two out of the last five years leading up to the sale.
