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Ask Suze & KT Anything: Dividends, Savings and Investing

Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

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Do I Need to Add My Kids to the Title of the Home When I Sell My House?

The owners of a home when you sell it each get a $250,000 exemption As long as They're on title number one And they lived in that house as their primary residency For two out of the past five years. So if each one of those kids Are living there and it is their primary residency But they're working, they have income  and are filing taxes on their own I bet you it would hold up but be very, very careful The government has to see this as a legitimate transaction Not just for you to get another $750,000 of exemption But that it was really, you gifted it to themAnd you did it legitimately You might want to wait for longer than two

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