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My fiance sold his house a year ago (and used the exclusion) & I want to sell mine (I qualify for the exclusion). Does the sale need to be final before our wedding?
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My fiance sold his house a year ago (and used the exclusion) & I want to sell mine (I qualify for the exclusion). Does the sale need to be final before our wedding?
You can use your exclusion either before or after you are married, on the home you owned before the marriage. You can't add your new spouse's exclusion since he used it less than 2 years ago, so your maximum exclusion is $250,000. Once you are married, you will have to wait 731 days from whoever used their exclusion most recently, to use it again as a married couple.
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My fiance sold his house a year ago (and used the exclusion) & I want to sell mine (I qualify for the exclusion). Does the sale need to be final before our wedding?
You can use your exclusion either before or after you are married, on the home you owned before the marriage. You can't add your new spouse's exclusion since he used it less than 2 years ago, so your maximum exclusion is $250,000. Once you are married, you will have to wait 731 days from whoever used their exclusion most recently, to use it again as a married couple.
- Mark as New
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My fiance sold his house a year ago (and used the exclusion) & I want to sell mine (I qualify for the exclusion). Does the sale need to be final before our wedding?
- Mark as New
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My fiance sold his house a year ago (and used the exclusion) & I want to sell mine (I qualify for the exclusion). Does the sale need to be final before our wedding?
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