Does it matter that I've gotten married since I bought the Property I'm Selling?

If you sell a property that you own solely, and your spouse does not have an interest in the old property but does acquire new property with you, the IRS could give you credit for only one-half of the purchase! Depending on the values of the properties involved and whether or not you live in a community property state, this could result in a significant tax bill. It may be advisable to add your spouse to title on the relinquished property prior to opening escrow.