Home sale, just married

[joanmcq]

Couple has lived together for 4 years, home is in one person's name only. They get married, then sell. I think they will be able to exclude $500,000 gain, even though both don't own the home. What do you think?

[jklcpa]

Yes, $500k is allowed as long as the other requirements are met and they file a joint return, only one of them needs to own the residence.  See 121(b )(2)(A)(i)

[joanmcq]

Thanks, that's what I thought, but I was at a CPE class and was talking to one of my fellow preparers who said no so I started doubting myself.