Talk of The Villages Florida - View Single Post - Homestead Exemption
Thread: Homestead Exemption
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Old 02-13-2012, 07:07 AM
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Quote:
Originally Posted by Tom Hannon View Post
Can I file for Florida residency while my wife keeps her NY identity? The house in Florida is in both names. Can we take advantage of the Homestead Exemption with only half the owners (the better half) with Florida residency. I will be 65 next year and if I had my way, I'd be a FROG. Wifey isn't as ready to become a frog.
Sorry to tell you Tom but the answer is NO. We are considering changing the deeds on our houses to take advantage of tax exemptions. Deed the up North house in her name and the Villages house in my name. We would then declare our primary residence in the deeded state. That way we would have exemption in both states. For IRS purposes you can use either state as your address to file as long as the first name on the return matches that address.

We were told this by a lawyer and our accountant.

Good Luck