Comments on: Selling Your Home Tax Free

By: finance advice

finance advice — Wed, 10 Feb 2010 10:12:34 +0000

Tax on a home sale is something the government uses as a way to get more money from people who have been successful and sold their home. But if a couple is successful with living in the property for more than 2 years then there is not a lot of tax to pay on the house depending on the final price of the property. With the widow exclusion it is always a good thing to check the mortgage that you have on the property and if there is a life insurance policy to say if a spouse dies then the mortgage is paid off then always pay for that. My mum divorced my dad in 1998 and he died in 2004 and a financial planner found out that legally his name could not be removed from the mortgage and because of that the remainder of the mortgage was paid off.

By: Six Tips for Selling Your House

Six Tips for Selling Your House — Thu, 30 Jul 2009 10:50:40 +0000

[...] Worried about taxes? Don’t be. If you meet certain requirements, you can sell your home tax free. [...]

By: Friday Finance Findings for March 6th - Newsletter Edition : Generation X Finance

Fri, 06 Mar 2009 15:23:31 +0000

[...] Selling Your Home Tax Free – How would you like to sell your home and not be taxed on the profit from the sale? You may have heard that you can sell your home tax-free, but what are the limitations, and would you qualify? [...]

By: SuburbanDollar

SuburbanDollar — Thu, 05 Mar 2009 15:45:34 +0000

Scary… I would have thought they would qualify the though never occurred to me that they would both have to meet the test… would this apply even if the home is deeded solely to the spouse? It would seem to me that for all intensive purposes it would be the sole asset of the original owner, the wife.