Marketed as 'The Riviera of America' perhaps Niceville's name was chosen for Nice, France situated on a beautiful bay with a temperate climate along the French Riviera. As interest in the local area grew McCaskill marketed land along the Choctawhatchee Bay as The Vale of Paradise.
In the case of a sale or exchange of property by an unmarried individual whose spouse is deceased on the date of such sale, paragraph (1) shall be applied by substituting â$500,000â for â$250,000â if such sale occurs not later than 2 years after the date of death of such spouse and the requirements of paragraph (2)(A) were met immediately before ...
The result is the amount of gain you can exclude from your taxable income. For example: you lived in your home for 12 months, and then sold the home because your employer asked you to relocate to a different office. You are an unmarried person.