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Deductions & credits
I am assuming both owners were married to each other in 2016 and they are filing a joint tax return. If thats your case, since only one of the two owners on the deed lived in the house for 2 of the last 5 years, the capital gains exclusion amount would be $250,000 only. That is of course, assuming this sale is being reported on a joint tax return.
‎June 10, 2019
4:17 PM