In the state of NJ Does the federal $500,000 home sale tax exemption still apply after a spouse passes away.?

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2007-05-31 07:31:23 · 2 answers · asked by Gregory P 1 in Business & Finance ➔ Taxes ➔ Other - Taxes

In the year of death - Yes.

Afterwards - No (Back down to $250,000)

2007-05-31 08:20:03 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋

How long after? In the year of death, you can still file a joint return, so for that year, yes it would apply. After that, no.

2007-05-31 14:58:51 · answer #2 · answered by Judy 7 · 3⤊ 0⤋