by ChristopherTrent on February 20th, 2008

ChristopherTrent

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My partner and I have live in a home that I own for the last 10 years. I have sold it and will close in 4 weeks. My partner I will marry in 8 weeks and file jointly in 2008. Can we take the 500K capital gain exclusion?

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  • by Yarnlady is happy every day on February 22nd, 2008

    Yarnlady is happy every day

    No. In order to be eligible for the 250,000 exclusion the partner must have been listed on the deed for some part of the time. It will be looked at as if you had a roommate during your residency, and then married your roommate after you sold the house. Under those circumstances, the partner is not entitled to the deduction.

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