The Widow’s Exemption in Real Estate
The Widow’s Exemption is a tax provision that offers financial relief to individuals who have lost their spouse. This tax exemption can significantly impact tax liability for widows and widowers at both state and federal levels. Let’s explore the definition, state rules, and federal regulations surrounding this important tax benefit. Definition and Eligibility The Widow’s Exemption, also known as the Qualifying Widow(er) status, allows a…