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Surviving Spouses Get Home Sale Tax Break

If you're a recent widow or widower, you should know that the federal government has extended the period in which you may sell your home and still be eligible for the maximum home-sale capital gains tax break. You now have up to two years after your spouse's death to sell the house and exclude as much as $500,000 of capital gains from your taxable income.  To qualify, you must have owned the home and lived in it as your primary residence for at least two of the five years prior to sale.  Also, the surviving spouse may not have remarried as of the sale date.  

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