Thursday, July 14, 2011

If my name is not on the grand deed, am I still qualified for the primary residence exclusion upon selling it?

I am going to have my name removed from the joint tenant ownership of our primary residence and only have my wife's name remained on the grand deed as sole ownership, Then, later when we sell this property, do we still have double primary residence exclusion on capital gain tax, i.e., $250,000 exemption for wife, and another $250,000 for husband?

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