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Investors & landlords
@dougcc there is no need to file separately. If you were married on Dec 31 of the tax year, you still file as married filing joint. When it gets to the sale of the residence the program will ask questions about each individual taxpayer concerning how long you have lived in the home as your primary residence. You will say that yes "YOU" lived in the house for 2 or more years. Then you will say "YOUR SPOUSE" did NOT live in the house for 2 or more years. The program will figure your exclusion accordingly. Since one of you did live in the house for more than two years, you're getting at least the $250K exclusion at a minimum.
‎January 30, 2025
1:36 PM