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Does the $500k exclusion for gain on sale of principal residence apply even if house is titled to only one of the people who are married-filing/-jointly?
I am the only person listed on the deed to our home. When I married 6 years ago, we did not change the deed. We have been “married filing jointly” taxpayers since our marriage. Assuming that we meet all of the rules for the exclusion on the gain on the sale of the home (principal residence ,etc), do we qualify for the $500k exclusion? Or are we limited to only $250k exclusion because the house is deeded in only one of our names?
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June 1, 2019
10:56 AM