freeflight
Junior Member
What is the name of your state? California
A friend owns a home in California. She is the only person named on her title. She recently married (5 months ago). She and her new husband are considering selling their home. They will likely have >$250K in profit. If she places her husbands' name on the title, can she keep $500K tax free? If not, how long does her husband have to be on the title before she is permitted to profit >$250K without capital gains tax?
Thank you very much,
ff
A friend owns a home in California. She is the only person named on her title. She recently married (5 months ago). She and her new husband are considering selling their home. They will likely have >$250K in profit. If she places her husbands' name on the title, can she keep $500K tax free? If not, how long does her husband have to be on the title before she is permitted to profit >$250K without capital gains tax?
Thank you very much,
ff