Capital Gains Revision for Surviving Spouse
Sunday, January 06, 2008
Congress passed its final tax bill of the year with regard to capital gains to give a break to surviving spouses. Congress gave the surviving spouse 2 years from death before she or he sells, loses the $500,000 exclusion benefit. Many taxpayers felt rushed into selling in the year of the spouse’s death to get the full $500,000 marriage exclusion. After the death, the spouse will get the full exclusion for up to two years, so Congress does have a heart!
Click here to view a video on this tax bill.
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