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Mavityre
New Member

Divorce 2 years ago. I moved out but held a private second deed of trust for my share w/deferred payments until we sold as my ex spouse was staying in the home. Liable?

Divorce 2 years ago.  I moved out but I held a private second deed of trust for my share with deferred payments until we sold as my ex spouse was staying in the home.  We are selling at the 2 year mark when the decree was final. Before that it was my personal residence on paper even though I didn't live there for a year.  Am I exempt from paying capital gains when the property sells?

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MarilynG
Expert Alumni

Divorce 2 years ago. I moved out but held a private second deed of trust for my share w/deferred payments until we sold as my ex spouse was staying in the home. Liable?

If you lived in the home for two of the last 5 years, you will be exempt from capital gains on the sale of your residence.

Here's more info:

https://ttlc.intuit.com/replies/4856067

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MarilynG
Expert Alumni

Divorce 2 years ago. I moved out but held a private second deed of trust for my share w/deferred payments until we sold as my ex spouse was staying in the home. Liable?

If you lived in the home for two of the last 5 years, you will be exempt from capital gains on the sale of your residence.

Here's more info:

https://ttlc.intuit.com/replies/4856067

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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