Module 6 Flashcards

Valuation and Sale of Marital Home (6 cards)

1
Q

What is the easiest and cleanest way to divide the marital home in a divorce?

A

sell it

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2
Q

If both spouses own the home jointly after the divorce, and only one of them continues to live in the house, then the resident spouse should have to pay 100% of what?

A

minor repairs

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3
Q

How often can the exclusion from capital gains tax upon the sale of a residence generally be used?

A

two years

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4
Q

this form (outdated and no longer used) was required by the IRS when you sold your home prior to 1998

A

Form 2119

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5
Q

if one spouse, as the result of a divorce decree, is required to grant the other spouse the right to temporary possession of the residence, but retains title to the residence, the non-occupying spouse will be treated as:

A

having used the residence for the same period that the occupying spouse used the residence

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6
Q
A
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