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| | Town houses, divorce, capital gains exclusion (Site not responding. Last check: ) |
 | | I also understand that the capital gains exclusion for real estate sales can only be claimed once every two years, with some exceptions that are itemized by the IRS, among which is being divorced. |
 | | You're right that you can only claim one exclusion every two years unless the second sale is occasioned by a change in place of employment, health reasons or unforeseen circumstances. |
 | | Basically, the second exclusion will be the number of months between the first sale and the second sale, divided by 24 months, multiplied by the maximum exclusion of $250,000. |
| www.bankrate.com /brm/itax/tax_adviser/20051209a1.asp (563 words) |
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