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Primary residence exclusion for married couple
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RC10
Level 1
04-09-2020
11:55 AM
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Sold 2 houses in 2019.
For work reasons, each spouse lived in a separate primary residence in California. They moved out of state and sold both houses in 2019.
House 1 lived in by husband was owned pre-marriage and owned in his separate trust.
House 2 lived in by wife was inherited by husband during marriage, but owned in his separate trust.
I have support for each spouse being able to take their $250K exclusion for their primary residence, but I am not sure that wife can take hers given that she did not own the house. What do you think?
Thank you.
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