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Sale of Home Exclusion

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    Sale of Home Exclusion

    Unmarried couple buy a home together; one owner buys the other out and is now sole owner. If the sole owner sells prior to owning the entire home for 2 of 5 years would he still have to pay the gain on half of the proceeds? (even though they were unmarried they did everything by the book - both on the deed, both on the mortgage)
    The sale was not because of job, health or any unforeseen events.
    Thanks for your help.

    #2
    I'm 'reading between the lines' and I am going to assume that he owned 'his half' for over 2 years, right?

    If so, he was on the title for over 2 years. He owned the home for over 2 years. It shouldn't matter if somebody else was also on the title, he still owned the home for over 2 years.

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