Generally, for many who moved your residence (otherwise display out-of a together possessed family) to a partner or ex-lover within a separation settlement, youre thought to haven’t any acquire or losings. But not, if the lover or ex-lover try a good nonresident alien, then you definitely almost certainly will have a gain or losses on import and screening in this book use.

To determine for folks who meet the Qualifications Try or be eligible for a limited exception, attempt to know the home’s time regarding product sales, definition once you ended up selling they. For folks who obtained Means 1099-S, Proceeds from A property Purchases, the fresh new time off purchases seems during the package step 1. If you failed to discover Function 1099-S, the newest big date off purchases is actually both the fresh new time the newest label moved or even the time the economical burdens and you may benefits of ownership moved on towards consumer, any type of day try earlier. Oftentimes, this type of dates are exactly the same.

It is possible to take the different, whether or not maximum or limited, only on the sale out-of a house which is the dominant quarters, definition your main household. (more…)