What is the name of your state (only U.S. law)? NY
I own property in NY. I have owned and lived here for 20+ years. I am married but the deed is in my name and my sister's name. I got married 3 years ago but did not add my wife to the deed because I knew we were planning on selling.
Do I get the exemption for being married even though her name is not on the deed? The $500,000 exemption.
If my sister removes her name from the deed for little or no money can she avoid the capital gains tax?
Is there a time frame?
What is the percent I would pay?
I own property in NY. I have owned and lived here for 20+ years. I am married but the deed is in my name and my sister's name. I got married 3 years ago but did not add my wife to the deed because I knew we were planning on selling.
Do I get the exemption for being married even though her name is not on the deed? The $500,000 exemption.
If my sister removes her name from the deed for little or no money can she avoid the capital gains tax?
Is there a time frame?
What is the percent I would pay?