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DelC
New Member

I am separated, but still legally married to my husband. We sold our home. I am filing married filing separately. How do we/ or who claims the sale? Everything was 50/50

Both names on the Mortgage, each paid half the mortgage every month and we split the proceeds from the sale of our home. Now, I just don't know how to claim this on my taxes
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1 Best answer

Accepted Solutions
Phillip1
New Member

I am separated, but still legally married to my husband. We sold our home. I am filing married filing separately. How do we/ or who claims the sale? Everything was 50/50

It depends on whether you can qualify for a full (or partial) home sale exclusion. (See the full explanation or sale of home issues by clicking on sale of a home.)

If this home was your main residence for 2 of the last 5 years, you can each can exclude up 250,000 dollars of gain on your separate returns. In this situation, you can exclude the sale from both of your returns (unless there was a 1099-S issued). If the 1099-S was issued and the total gain is less than 250,000 dollars, you can report the gain on either one of your tax returns without any tax consequence.

If the home was your main home but you did not live in the home for the full two years, you may still take an exclusion if one from any from a number of listed unforeseen occurred (including for divorce or separation).

The reduced exclusion percentage is calculated by dividing the number of days that you lived in the home divided by the number of days in two years. That percentage is multiplied by the full exclusion amount of 250,000 dollars (or 500,000 dollars for married joint filers).

The listed unforeseen events are as follows:

Work-related move.   You meet the standard requirements if any of the following happened during the time you owned and lived in the home you sold:

  • You took or were transferred to a new job in a work location at least 50 miles farther from home than your old work location.

  • You had no previous work location and you began a new job at least 50 miles from home.

  • Either of the above is true of your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence.

Health-related move.   You meet the standard requirements if any of the following happened during the time you owned and lived in the home you sold.

  • You moved to obtain, provide, or facilitate diagnosis, cure, mitigation, or treatment of disease, illness, or injury for yourself or a family member.

  • You moved to obtain or provide medical or personal care for a family member suffering from a disease, illness, or injury.

  • Family includes:

    • Parent, grandparent, stepmother, stepfather;

    • Child, grandchild, stepchild, adopted child, eligible foster child;

    • Brother, sister, stepbrother, stepsister, half-brother, half-sister;

    • Mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, daughter-in-law;

    • Uncle, aunt, nephew, niece, or cousin.

  • A doctor recommended a change in residence for you because you were experiencing a health problem.

  • The above is true of your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence.

Unforeseeable events.   You meet the standard requirements if any of the following happened during the time you owned and lived in the home you sold.

  • Your home was destroyed or condemned.

  • Your home suffered a casualty loss because of a natural or man-made disaster or an act of terrorism. (It doesn’t matter whether the loss is deductible on your tax return.)

  • You, your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence:

  1. Died;

  2. Became divorced or legally separated;

  3. Gave birth to two or more children from the same pregnancy;

  4. Became eligible for unemployment compensation;

  5. Became unable, because of a change in employment status, to pay basic living expenses for the household (including expenses for food, clothing, housing, medication, transportation, taxes, court-ordered payments, and expenses reasonably necessary for making an income).

  • An event is determined to be an unforeseeable event in IRS published guidance.

  • View solution in original post

    1 Reply
    Phillip1
    New Member

    I am separated, but still legally married to my husband. We sold our home. I am filing married filing separately. How do we/ or who claims the sale? Everything was 50/50

    It depends on whether you can qualify for a full (or partial) home sale exclusion. (See the full explanation or sale of home issues by clicking on sale of a home.)

    If this home was your main residence for 2 of the last 5 years, you can each can exclude up 250,000 dollars of gain on your separate returns. In this situation, you can exclude the sale from both of your returns (unless there was a 1099-S issued). If the 1099-S was issued and the total gain is less than 250,000 dollars, you can report the gain on either one of your tax returns without any tax consequence.

    If the home was your main home but you did not live in the home for the full two years, you may still take an exclusion if one from any from a number of listed unforeseen occurred (including for divorce or separation).

    The reduced exclusion percentage is calculated by dividing the number of days that you lived in the home divided by the number of days in two years. That percentage is multiplied by the full exclusion amount of 250,000 dollars (or 500,000 dollars for married joint filers).

    The listed unforeseen events are as follows:

    Work-related move.   You meet the standard requirements if any of the following happened during the time you owned and lived in the home you sold:

    • You took or were transferred to a new job in a work location at least 50 miles farther from home than your old work location.

    • You had no previous work location and you began a new job at least 50 miles from home.

    • Either of the above is true of your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence.

    Health-related move.   You meet the standard requirements if any of the following happened during the time you owned and lived in the home you sold.

    • You moved to obtain, provide, or facilitate diagnosis, cure, mitigation, or treatment of disease, illness, or injury for yourself or a family member.

    • You moved to obtain or provide medical or personal care for a family member suffering from a disease, illness, or injury.

    • Family includes:

      • Parent, grandparent, stepmother, stepfather;

      • Child, grandchild, stepchild, adopted child, eligible foster child;

      • Brother, sister, stepbrother, stepsister, half-brother, half-sister;

      • Mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, daughter-in-law;

      • Uncle, aunt, nephew, niece, or cousin.

    • A doctor recommended a change in residence for you because you were experiencing a health problem.

    • The above is true of your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence.

    Unforeseeable events.   You meet the standard requirements if any of the following happened during the time you owned and lived in the home you sold.

    • Your home was destroyed or condemned.

    • Your home suffered a casualty loss because of a natural or man-made disaster or an act of terrorism. (It doesn’t matter whether the loss is deductible on your tax return.)

    • You, your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence:

    1. Died;

    2. Became divorced or legally separated;

    3. Gave birth to two or more children from the same pregnancy;

    4. Became eligible for unemployment compensation;

    5. Became unable, because of a change in employment status, to pay basic living expenses for the household (including expenses for food, clothing, housing, medication, transportation, taxes, court-ordered payments, and expenses reasonably necessary for making an income).

  • An event is determined to be an unforeseeable event in IRS published guidance.

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