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Deductions & credits

Hi Jean,

 

I noticed your response. Here is my question.

Does it matter to have relationship among joint owners? For example, parents, and parents' married child purchased a house together. If they all qualify the use and ownership test, they have up to $1,000,000 capital gain exclusion.

I have a case on my hand and I am doing research on it. Just not sure if their relationship will affect the exclusion rule.

Thank you