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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 127522

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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