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Opinion

ASK HARRY: Can I Pass My $250,000 Capital Gains Exclusion On To My Heirs?

  • Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987.

Question: I'm 94 years of age and own a home in Massachusetts. When I pass, will my heirs be able to take the $250,000 federal capital gains deduction that I would have been entitled to if I sold the house? Does this differ from state to state?