Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
10+ investment analysis calculators
$1,000+/yr savings on landlord software
Lawyer-reviewed lease forms (annual only)
Unlimited access to the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply presented by

User Stats

2
Posts
0
Votes
Issac Kao
  • Seattle, WA
0
Votes |
2
Posts

Adding owner to reduce Home Sale Tax on capital gain

Issac Kao
  • Seattle, WA
Posted

I plan on selling my house to downsize and move out of state. If I sell the house now the capital gain would be around $700-800k. Being married, we would take $500k off that gain, with still a decent chunk left. I've read online that you can further reduce the capital gain by adding others to the ownership. My son just turned 19 and have lived with us in this house for the past 8 years. If I add him to the ownership right now would he be considered for the full $250k single reduction or would I have to wait two years to qualify for the full $250k?

Loading replies...