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Can she take the one time exemption on that house without changing the exemption on my current house?

Background information: Before we got married, my current wife owned a house in northern Virginia. The house was owned solely by her. When she moved to central Virginia in 2008, she rented that house and bought a second house as her primary residence. In 2013, she short sold the second house and moved in with me. My residence is solely in my name. We married in 2014 and in 2016 she sold her house in Fredericksburg, VA. How do we handle the gain on the house in northern Virginia? Can she take the one time exemption on that house without changing the exemption on my current house?

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Accepted Solutions

Can she take the one time exemption on that house without changing the exemption on my current house?

Are you planning to move out of your current residence soon?
If no, it is not an issue since you can take the exemption as many times as you qualify for it.

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1 Reply

Can she take the one time exemption on that house without changing the exemption on my current house?

Are you planning to move out of your current residence soon?
If no, it is not an issue since you can take the exemption as many times as you qualify for it.
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