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Investors & landlords
Yes value went up. In 2012 we paid $132k. At time of divorce in 2016 value was $220k. In 2021 I sold for $440k. Idaho housing market exploded. If it matters, I didn't refinance At the divorce. I had to get a brand new mortgage to get him off the mortgage. So the new mortgage was 250K because I took some equity out.
Someone else said I would get a form for the capital gains. But the bank has never provided me anything which is why I'm confused about if I'm supposed to pay capital gains or not. I think I'm pretty close to being exempted because of the $250000 exemption and yes I did live in the house for 3 of the 5 years prior to the sale
‎June 25, 2022
6:19 AM