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Financial Planning / Tax Strategies
|Subject: Re: Gain on Selling House||Date: 7/14/1999 9:28 AM|
|Author: bytejockey||Number: 17295 of 119732|
My Dad owns a house with about a $500,000 current market value, and about a $25,000 tax basis. He is a widower.
Is there any way he can shield more than $250,000 of the gain upon sale from federal taxes?
He could get married.
Or contact a real estate attorney and ask if a 1031 tax-free exchange might be useful.
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