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Updated almost 7 years ago on . Most recent reply

User Stats

6
Posts
3
Votes
Amaya Palmeri
  • Playa Del Rey, CA
3
Votes |
6
Posts

Tax implications of selling primary residence

Amaya Palmeri
  • Playa Del Rey, CA
Posted

Hopefully someone can help with this! My question is regarding the sale of our primary residence- my husband had some credit issues way back when so my parents helped us with our loan and we left my husband off the loan and deed when we bought in 2014. In the fall of 2016, we refinanced, my parents quit claim to the property and we added my husband. Now we're selling and it occurred to me that he's been on the deed just shy of 2 years so I'm worried about being taxed on the gains. Is this a legitimate concern if I've been on the deed the whole time? We live in CA which is a common law state if it helps. (Married in 2014) 

Thanks in advance for any insight on this! It's an unusual situation so it's been tough to research.

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