Internal Revenue Service (IRS)
Revenue Ruling (Rev. Rul.)
26 USC § 121
26 CFR § 1.121-1
Gain From Sale or Exchange of Residence of Individual Who Has Attained Age 65
An unmarried individual holds title to his residence as a joint tenant or tenant in common. He meets all the age, use, and holding requirements of section 121 of the Internal Revenue Code of 1954, relating to the exclusion from gross income of gain from the sale or exchange of a residence of an individual who has attained the age of 65.
Held, such taxpayer is entitled to exclude from gross income, subject to the limitations of section 121 of the Code, that portion of the gain which is attributable to his undivided interest in the residence at the time of the sale.