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Deductions & credits
since you'll be married in 2022, a married (as of 12/31 of the year of sale) couple would get a $500,000 exclusion if they owned the house and both used the house as your principal residence for any 2 out of 5 years before the date of sale. since you will only use the property as your primary residence for 23 months the maximum exclusion will be 23/24 of $500,000 if you file jointly.
it may not matter much but the time periods can be computed using either days or months as long as the method is consistent
May 12, 2022
10:10 PM