Q: If you sell 2/3 of your home, where you have lived more than 2 yrs, can you use the $250K capital gain home exclusion
My mother passed away and the tile of her home was in my name, never hers. I have lived in that house for over 10 years. There is significant equity in the house and many other heirs. Two siblings and I want to keep/buy the home and share the proceeds with all heirs. If I sell 2/3 of the house and continue to be on title along with my other two siblings and live there can I still claim the $250,000 capital gain exclusion? If after 2 years I decide to sell the remaining interest to the other two siblings, can I use the exclusion again?
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