Find out how to register, vote early, research a candidate and more in AARP's midterm election guide.
by Sid Kirchheimer, AARP Bulletin, - September 2, 2008
You now have up to two years following a spouse's death to sell your jointly owned home and keep up to $500,000 in profits tax-free, thanks to a provision of the Mortgage Forgiveness Debt Relief Act signed into law last December. The change should allow recently widowed homeowners more time to grieve and better plan their future, instead of rushing a home sale to avoid paying more taxes. Previously, a home had to be sold the same year as a spouse's death to qualify for the $500,000 exclusion; widowed homeowners who waited two years were only eligible for up to $250,000. Any longer, they wouldn't be eligible at all.
Please leave your comment below.
You must be logged in to leave a comment.
Members can print free coupons at the Grocery Coupon Center powered by Coupons.com.
Members save 25% on purchases of $200+ and get free basic lenses or 25% off lens upgrades.
Members save 10% on their check every day.
AARP members receive exclusive member benefits & affect social change.
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at