I legally separated (moved out) from my ex-wife in May 2006, and divorced in Jan 2007. She currently lives in the house that we own jointly, and we are considering selling it.
Since I lived in the house more than 2 of the last 5 year, I don't expect to pay any capital gains taxes. But, If we decide to sell the house after May 2009 I would have lived in the house less than 2 or the last 5 years. Should I expect to pay capital gains taxes if we sell after May 2009?
Or is there some weird loophole since we are legally divorced and separated?
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