When should surviving spouse sell house?

When should surviving spouse sell house?

There are 1 comment on the Newsday story from Jul 4, 2008, titled When should surviving spouse sell house?. In it, Newsday reports that:

How long does a surviving spouse have before he/she loses the $500,000 tax exclusion on the sale of their residence of many years, and has to take the $250,000 deduction? V.B.S., Farmingdale The answer to your ...

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Trenton, NJ

#1 Jul 25, 2008
The IRS allow the step up basis as the cost for the widow and this will raise her cost up to todays FMV.

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