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In Sunday's Union-Tribune I came across an interesting article. A home can have multiple homeowners as long as they are on the title. Further, if they meet the rules of occupancy, each homeowner would be allowed the $250K tax exclusion when the home is sold.


So let me get this straight. If my son or daughter get jobs in San Diego, and wifey and I put them on the title to this house, and they live here for two years, then if we sold the house (for say a profit of $1M), each kid (and wifey and I) would get a $250K tax deduction. So we'd all get $250K tax free! This may be the only way my kids can afford to live in San Diego.

I'm asking this board's experts if this is indeed true? Do we to roll the money into another house?

A bit stunned,
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