Married couple with his and hers primary residences, how is sale of one home taxed? : RealEstate


(US) My spouse and I bought a second residence in 2014 while also owning a first residence. The second house became his primary residence while the first one was my primary residence. In 2019, we sold the second residence and he moved back into the first house. The selling price of the second residence was about $70k higher than we paid. How is that handled for taxes? If we sell the first house and re-invest the proceeds from both into one house, is the increased equity taxed? What if we separate and buy two homes? It’s in Texas, no state income tax.



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