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Deductions & credits
Hey Tom,
Well:
1) They both lived there.
2) The situation causing the sale arose during the time they owned and used the property as residence
3) They sold the home not long after the situation arose.
4) She couldn’t have reasonably anticipated the situation when they bought the home.
5) She would have experienced significant financial difficulty maintaining the home if she had <the ability> to buy him out.
So on the surface, it appears to hold some valid reasons. Surprised that we're breaking new ground on this one.
March 8, 2023
8:20 AM