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If I am to understand correctly, if one spouse dies, then the exclusion is the $250K, since the person selling the house is now a single taxpayer? That kind of doesn't make much sense. I mean, let's say a married couple lives in the same house for 40 years and it's value is $450,000 (after several improvements). After 40 years, one of the married couple dies. Then the remaining person sells the house for $450K. Then they are only allowed the $250K write off?

That doesn't seem fair. Am I correct in how this would play out?

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