topic capital gains in Investors & landlords

capital gains

dw1970 — Mon, 09 Mar 2026 04:23:35 GMT

If I owned 2 houses and sold my matrimonial home with my now ex-husband, do I have to pay capital gains on the sale of the matrimonial home?

Re: capital gains

HelenC12 — Wed, 26 Jan 2022 15:18:39 GMT

You won't pay taxes on the first $250,000 (also known as a gain) you make from the sale of your home. If you're Married Filing Jointly, you won't pay taxes on the first $500,000.That income is free and clear as long as:

You owned the home
It was your main home for two years or more within the five years leading up to the sale
You waited at least two years between selling your primary home and excluding your first $250,000 or $500,000 from taxes. In other words, you may buy and sell as many primary homes as you'd like, but you'll only get this tax benefit every two years.

When you sell a second home, the tax situation is different.

TurboTax will show you if your home sale is taxable.

Open or continue your return in TurboTax
Search for home sale
Select the Jump to link in the search results
Answer Yes to Did you sell or have your home foreclosed in 2021? on the Sale of Your Main Home screen
Follow the instructions to enter your info

Related Information:

Re: capital gains

dw1970 — Wed, 26 Jan 2022 17:29:42 GMT

If I moved out of the matrimonial home back to my original home prior to the sale of the matrimonial home but had many of my possessions still at the matrimonial home until the sale of the home - is this still considered selling of primary residence?

Re: capital gains

Carl — Wed, 26 Jan 2022 20:42:59 GMT

Multiple duplications of this post.

Posted Capital Gains on Matrimonial Home on [Event] Ask the Experts: Life Events in 2021. 2 hours ago
Posted Capital Gains on Matrimonial Home on Investors & landlords. 3 hours ago
Posted capital gains on Investors & landlords. 6 hours ago