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| Re: If You Plan On Selling Your Home (913528) | |||
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Re: If You Plan On Selling Your Home |
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Posted by Dave on Mon Feb 27 11:35:35 2012, in response to Re: If You Plan On Selling Your Home, posted by AlM on Mon Feb 27 10:10:41 2012. In community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), husband and wife are each usually considered to own half the community property. When either spouse dies, the total value of the community property, even the part belonging to the surviving spouse, generally becomes the basis of the entire property. For this rule to apply, at least half the value of the community property interest must be includible in the decedent's gross estate. |
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