I sold my home in January 2024 (lived there alone 3.5 years, made well under the $250k exclusion limit), then got married in June and moved in with him. He has lived in his house for over 4 years. We are looking to sell it in the next few months.
When we file jointly for 2024 taxes, will the $250k capital gains exclusion only apply to the sale of my home? Will we have to pay capital gains on the sale of his house? Is there any benefit to filing separately in this situation?
