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Capitals gains divorce and remarry

My fiancé owned a home and sold it in a divorce last year and plans to claim his half of the capital gains exclusion from that sale. I own a home where we both live now that I have lived in for 10 years. If I sell this home and we get married and buy a home together can we file jointly and me still file a capital gains exclusion on my home even though he filed on his lease than 2 years ago? 

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1 Reply
Hal_Al
Level 15

Capitals gains divorce and remarry

Q . Can we file jointly and me still file a capital gains exclusion on my home even though he filed on his home sale exclusion than 2 years ago? 

A. Yes. Your limit for the capital gain exclusion, on your home sale, is $250,000, the same as a single person would get.  The fact that you are filing a joint return does not prohibit you from claiming your own capital gain exclusion.  What you cannot claim is the up to $500,000 exclusion married people can claim. 

 

There are several reasons that you are limited to $250,000. 

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