Article Date:
January 2006


Word Count:
122

 

 

$500,000 Exclusion


Do I have to be married during the 24 months of residential use for me and my husband to take the $500,000 exclusion? (T. S., Glendale, CA)

 

No! To qualify for the $500,000 exclusion,1

 

·

one of you, either you or your spouse, must meet the 24-month ownership requirement (24 of the past 60 months);

·

you must have used the residence as your principal home for 24 of the past 60 months;

·

your spouse must have used the residence as ... Log in to view full article.

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