Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago on .
Most recent reply
presented by
Capital gains exclusion question
Hey BP - hoping the awesome tax nerds can help me out with this one! Working with my CPA to determine whether or not my wife and I are eligible for a cap gains exclusion. Here are some high levels bullets:
- my now-wife purchased a condo in April 2016. She was the only one on the deed.
- we got married in July 2017
- I claimed a capital gains exclusion on a condo that I had lived in and subsequently rented in August 2018.
- We (my wife) sold the condo she purchased in April 2016 in September 2019 and moved into a new house.
Question: can we claim the capital gains exclusion on the sale of the condo she originally purchased in 2016 and sold in 2019 this year?
Tried to make this as coherent as possible but happy to clarify anything. Thanks!
- my now-wife purchased a condo in April 2016. She was the only one on the deed.
- we got married in July 2017
- I claimed a capital gains exclusion on a condo that I had lived in and subsequently rented in August 2018.
- We (my wife) sold the condo she purchased in April 2016 in September 2019 and moved into a new house.
Question: can we claim the capital gains exclusion on the sale of the condo she originally purchased in 2016 and sold in 2019 this year?
Tried to make this as coherent as possible but happy to clarify anything. Thanks!