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Updated over 2 years ago,

User Stats

22
Posts
6
Votes
Thomas Hart
  • Investor
  • Windsor, CA
6
Votes |
22
Posts

Primary residence exemption on two properties

Thomas Hart
  • Investor
  • Windsor, CA
Posted

So the situation is my wife and I both owned houses before we got married and I believe we both would meet for two out of the last five year resident test. Can we both use 250 K exemption on our individual properties that we are now selling? If we file married but filing separately? Is there anyway anyone else knows to use 500,000 exemption on two properties? I have consulted professional tax advice and I believe I am being given incorrect information

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