Yes. She needs to report the capital gain on the sale. However, she can exclude the first $250,000 of the gain, so the sale and reporting may or may not result in any taxes.
Yes. She needs to report the capital gain on the sale. However, she can exclude the first $250,000 of the gain, so the sale and reporting may or may not result in any taxes.
The Court of Appeal of the State of California holds that an omitted spouse is not entitled to a share of her husband’s Individual Retirement Account (IRA) because the IRA is a nonprobate asset passing directly to separate trusts. In...
Read MoreA roundup of elder law news and practice development articles culled from news sources across the nation during the week of October 22, 2024, to October 28, 2024.
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