Yes. You can everything evenly including the exclusion. Total exclusion for each of you will be $250,000.00.
The gain from the sale of your home is tax-free if all of these apply: You (or your spouse, if married filing jointly) meet the ownership test. You and your spouse (if married) file married filing jointly or married filing separately.
For example, if you and your spouse own a property jointly and you both live there, you can potentially exclude up to $250,000 of your share of the gain on your separate return if the property is sold. Your spouse can do the same.
The tax code recognizes the importance of home ownership by allowing you to exclude gain when you sell your main home. To qualify for the maximum exclusion of gain ($250,000 or $500,000 if married filing jointly), you must meet the Eligibility Test
@dimitrim
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