Letters to the Editor
Losing capital gains tax break a top concern
By Inman News, Monday, August 27, 2007.Bookmarking Sites
Re: 'Don't quitclaim deed to ex-wife too soon' (Aug. 21)
Dear Editor:
There is one more enormous reason NOT to deed a house to a spouse before the sale: If the "out spouse" does this, he or she loses the extra $250,000 capital gains tax exclusion. If both names are on the deed at the time of sale BOTH parties get the $250,000.
In my opinion, any attorney who lets his or her client do this would be liable for malpractice.
E. Carroll Straus
Attorney
Mission Viejo, Calif.
Copyright 2007 Inman News
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