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Hi, my name is Mark. I will be happy to help you with your questions. Let me get a little more information before I answer your question. How long have you owned the properties?
You would be able to claim the property taxes and mortgage interest on both properties.
Hi. Another expert here. My name is ***** ***** I will be happy to clarify it for you.
Each of you can use ONE 250K capital gains exclusion every two years. How you use it is up to you. If you sell both homes in the same year, each of you can exclude up to 250K on your own homes or use 500K on one home and ho exclusion on another, but combined you cannot exclude more than 500K on your joint return (or 250K if you file separate returns).
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