cost basis of your home: Capital Gains Taxes and the Surviving Spouse - 08/13/11 09:49 AM
Capital Gains Taxes and the Surviving Spouse
A friend of mine in West Portal (who always reads my newsletters!) asked me a question yesterday about Capital Gains Taxes and how that relates to her mother's home, her mother's deceased husband (passed away in 2008), and the 2 and 5 year period. Once I had it all together I decided it was definitely worth sharing:
 
Individuals can exclude up to $250,000 in profit from the sale of a main home (or $500,000 for a married couple) as long as you have owned the home and lived in the home for a … (7 comments)