I presume the county you're in has additional change in ownership forms which should be filed.

Namely, these 2 key bits...(1) Even tho the ownership test is only required of 1 of 2 spouses, the residency test is required of BOTH spouses if filing jointly, which we were planning to do.... yet my wife did NOT live in the house during the past 5 years, which means that we'd have to file separately and will definitely complicate things quite a bit, but if it's worth it.... then, well, it's worth it!!

Yes, he can still file bankruptcy, but that is only for a 30 day period (last resort.)Good Investing...

If you live in the property for at least two years before selling, you might qualify for the capital gains tax exemption under Section 121, allowing you to exclude up to $250,000 ($500,000 if married filing jointly) of the gain.

https://drive.google.com/file/d/15VTePj526pwUR21OUn-4QNOmx-R... 

My tax accountant files them as investment properties under my social.

He just filed the paperwork on the 2nd and his cost for us is $1,700.

Instead you can try to APPEAL your taxes using the form below:https://www.phila.gov/media/20240327122414/BRT-Market-Value-Appeal-Form-2025.pdfThe deadline is OCT 7TH 2024!

IN practice during the GFC banks did not do this.. just like they had a gov. mandated moratorium on 1099C debt relief filings... now though that is done and that is a rude awakening to many folks who think they can just walk.

Boxabl acknowledges SEC inquiry in updated filing | Business Insider India