Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

2016 Postmortem

bemildred

(90,061 posts)

6. I would look into it carefully, it's a lot of tax free money if done right.

Reply to Mojorabbit (Reply #5)

Wed Jan 2, 2013, 12:36 PM

Jan 2013

The exemption for sale of primary residence is a separate issue from insurance, the life insurance is the beneficiaries, period, all of it, cash, tax free.

The handling of the gain on sale of primary residence depends on tax filing status for the year of sale, I think, and rules for widows may have some special things to consider. State law will apply to.

Best wishes.

Edit history

Please sign in to view edit histories.

16 replies

= new reply since forum marked as read

Highlight:

I think the raise in the capital gains tax is a big deal. [View all] RDANGELO Jan 2013 OP

it's still ridiculous that it's not taxed the same as labor income. unblock Jan 2013 #1

romneys gonna have to get a couple more dancin' horses & a race horse-so he can pay no tax Sunlei Jan 2013 #11

The Romney's took a $75,000 tax deduction on that horse mrsadm Jan 2013 #15

75k deduction for that one tax return we saw. They have owned several 'investment horses' Sunlei Jan 2013 #16

Yes, it is, it ends our bias towards passive investment. bemildred Jan 2013 #2

...and dividends? RussBLib Jan 2013 #3

Taxed same as capital gains. nt geek tragedy Jan 2013 #4

well, 20% is better than 15% RussBLib Jan 2013 #8

I was looking at widows benefits and if one sells the house after the death Mojorabbit Jan 2013 #5

I would look into it carefully, it's a lot of tax free money if done right. bemildred Jan 2013 #6

Did a cursory search LiberalFighter Jan 2013 #10

Thanks! Neither had life insurance other than a small burial policy from their husbands. nt Mojorabbit Jan 2013 #13

If nothing was done the capital gains was going up to 20 % anyway and dividends to regular rates. Filibuster Harry Jan 2013 #7

there's no such thing as "permanent" RussBLib Jan 2013 #9

"Permanent" just means there is no sunset provision (end date) explicitly written into the law alcibiades_mystery Jan 2013 #14

Not a BIG deal Cosmocat Jan 2013 #12