Sold Home
“My spouse and I are getting divorced and selling our jointly owned home, how do we split the capital gains exclusion if only one of us lived there recently?”
In a divorce-related home sale, the tax treatment often depends on how the property was owned, whether either spouse met the ownership and use tests, and how the sale is reported on the return. The fact that only one spouse lived in the home recently can matter, but the timing of the move, the divorce agreement, and whether the sale happens before or after the divorce is finalized can also affect the analysis. In many cases, the allocation of any gain and the available exclusion are shaped by each spouse’s records, filing status, and the details of the settlement. A CPA who reads your specifics can usually tell you, in plain English, where this lands.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I sold my primary home for a massive profit after living in it for exactly three years, how do I formally claim the capital gains exclusion on my tax return?”
“I converted my primary residence into a rental property two years ago, do I still legally qualify for the tax-free home sale exclusion if I sell it now?”
“I inherited a house and sold it almost immediately, do I owe capital gains taxes on the full sale price or just the stepped-up basis value?”
“I am selling my home at a massive loss due to a terribly bad real estate market, can I deduct the loss on the sale of a primary residence from my taxes?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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