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Level 2
June 3, 2019
Solved

Should we file jointly or seperately?

  • June 3, 2019
  • 1 reply
  • 9 views

I sold a house I lived in a few years ago but my wife did not. Should we file jointly or seperately so I can avoid having to pay on the prceeds?

Best answer by DavidD66

Your filing status won't affect you ability to take the The Home Sale Gain Exclusion.  Since it was not your wife's primary residence for 24 of the 60 months preceding the sale, you will only qualify for a $250,000 exclusion.

1 reply

DavidD66Answer
Level 15
June 3, 2019

Your filing status won't affect you ability to take the The Home Sale Gain Exclusion.  Since it was not your wife's primary residence for 24 of the 60 months preceding the sale, you will only qualify for a $250,000 exclusion.

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