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Unmarried couple selling a house years after breakup
My ex and I bought a home in NJ in 2013, paying the mortgage equally. Then in 2017 we broke up (amicably). I moved out and started renting an apartment in NYC while he stayed in the home and took over the mortgage payments.
Now we are selling the house and I am not sure what I will owe in taxes and what my options are.
I have not lived there myself for 2 out of the last 5 years, but he has. I will also only receive a smaller portion of the sale proceeds than he will since he lived there longer and put in more money for improvements.
Will I have to pay capital gains? for the whole house or just for the small percentage I am receiving?
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‎December 5, 2023
4:49 PM