Positive New Capital Gains Tax Implications for Widows/Widowers
For those of you who haven't seen the new tax changes regarding capital gains on homesteaded properties, here's a quick highlight of one of the good changes. On of the biggest changes to note is the ability for widows/widowers to sell their property, within two years of spouses death, and still be able to claim the $500,000 capital gains exemption that all married people enjoy. After that year, it reverts to the $250,000 that single people are allotted.
Read more about this story at: http://realtytimes.com/rtpages/20071228_washingtonreport.htm
Jason Tangen, Real Estate Broker Associate with Edina Realty of St Cloud MN
jasontangen.edinarealty.com - Search for Open Houses in Central MN
www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN
