Many widows need to sell their home or a rental or business after losing their spouse. What are the tax implications? Nicole and Summer talk through some different scenarios and some tax saving ideas. Make sure you get that step up in basis at the death of your spouse. And keep good records on the improvements to your real estate.
Resources
https://www.kitces.com/blog/step-up-in-basis-gifting-assets-spouses-estate-tax-unrealized-gains-separate-property-states/
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