IRS Secret for Homeowners: Get $500K TAX-FREE (Divorce Edition)

If you own a home and are navigating a divorce in Westchester County or White Plains, New York, you could be at risk of losing a significant portion of your equity to federal and state capital gains taxes. In this video, divorce real estate specialist Mike Marcus breaks down the complex IRS rules regarding the Section 121 exclusion. Learn the crucial difference between the $500,000 tax-free exclusion for married couples filing jointly and the lower $250,000 single-filer limit. You will discover the financial traps of timing your home sale incorrectly, the importance of the 'use test' and 'ownership test,' and how to document your cost basis through home improvements to reduce your tax liability. This guide is essential for any homeowner going through a separation who wants to protect their wealth and ensure they don't overpay the government. Learn why coordinating your real estate strategy with your attorney and CPA early on is the best way to safeguard your financial future. Helping people navigate divorce, separation, and selling a home with confidence. I’m Mike Marcus Jr., a White Plains, NY Realtor who specializes in helping homeowners make smart real estate decisions during divorce, separation, and other major life transitions. Divorce is emotional enough. Selling your home shouldn’t add more stress. On this channel, you’ll learn: • How to sell a house during divorce • What happens to a home in a New York divorce • Divorce real estate strategies • White Plains & Westchester County housing market updates • Home selling tips that protect your equity • Pricing and negotiation strategies • Common mistakes divorcing homeowners make • What buyers and sellers need to know before making a move Whether you’re trying to decide if you should sell, buy out your spouse, refinance, or simply understand your options, this channel is designed to help you make informed decisions—not emotional ones. I proudly serve homeowners throughout White Plains NY, Westchester County. 📍 White Plains, NY 📞 914-996-2014 📧 [email protected] Subscribe for weekly videos on divorce real estate, home selling strategies, market updates, and expert guidance to help you protect your future.