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dwill7000
Returning Member

Sold house I bought before we married. Was my primary residence, then rental, but how do I fill out capital gains?

I bought the house in 1998 and it was my primary residence til 2010 when we got married and I moved to her house.
At that point it changed to a rental til we sold it in 2020.

I understand that I can deem it my principal residence up to 4 years after I moved out and changed it to a rental.

Turbotax is splitting the capital gains between my wife and I, but then asks how long it was a primary residence. I believe I should state year of acquisition was 1998 and I deem it my primary residence for 16 years? (1998 to 2010 + 4)

But what do I put for my wife's form as it was never her primary residence - but do we 'deem' it her primary residence til 2014? Do we have to have the same timeline for principal residences or can they be different for husband and wife?

 

1 Reply
dwill7000
Returning Member

Sold house I bought before we married. Was my primary residence, then rental, but how do I fill out capital gains?

oops. Moving this to the 'Filing' forum

v