Unmarried/Gay Sellers Each Get A $250,000 Tax Break?

principal residence sale profits. In fact, if there were three or four co-owners who each met the ownership and occupancy tests, up to $1 million total principal residence sale profits could be tax-free.

You each qualify because you are both on the title (unlike a married couple filing a joint tax return where only one spouse need hold title) and you each meet the two out of last five years ownership and occupancy tests. Please consult your tax adviser.


by
ROBERT BRUSS