Newlyweds must decide where they’ll live after the marriage: in a home that the bride or the groom already owns or in a different one. Often, one or even two homes will be sold by a couple who are getting married.
If that’s the case, it’s probably better to wait until after the marriage to make the sale. That’s because a married homeowner can claim a $500,000 capital gain exclusion on the sale of a principal residence while a single homeowner can exclude only $250,000 worth of gain. As long as you have to deal with the infamous “marriage penalty” that couples face, you might as well pocket this wedding gift from the IRS.
