Capital Gains on home sale
My husband and I both owned homes prior to getting married in 2011. We still have both homes. I plan to sell my home in a few years.
The question: How is the capital gains calculated in situations like this. Is there a "one time exclusion" of no tax on the first $250,000 of capital gains or is that on every sale of your personal home. If you are allowed a one time exclusion, does that apply to us individually or as a couple?