[USER]

I got divorced a year ago. We still own the house together. I stayed in the house and pay for everything.

The plan is to sell it after my younger daughter graduates from HS.

Since he is not paying for anything now, the profits from the house will be split 70/30 %

But in four years my capital gains will be probably over $250k, so I would have to pay capital gains taxes.

Where can I find detailed info about it? How can I minimize the taxes I would have to pay?

Thank you for your help!

[Emma]

How much over the $250k will you be? It won’t be on the full amount. You can deduct qualifying home improvements from the capital gains so I would keep records of that/ see how much you can get together that has already been done.

[Benjamin]

This will not be a popular opinion but don’t worry about it.

[Caleb]

Get remarried to someone and file taxes jointly so your capital gains exclusion would be 500k is about it

[Author]

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