Corrections

Correction to the previous article “Financial Birthdays for Older Americans to Remember”: The one-time $125,000 capital-gains tax exclusion for homeowners aged 55 or over is outdated. The new tax law passed last year is much better — however, it is for anyone regardless of age. The law states that if you have owned and used a home as your principal residence for periods totaling at least two years out of the last five years before selling, you generally may exclude up to $250,000 of gain ($500,000 for joint filers). For those who already used the one-time $125,000 exclusion, you can benefit again from this new law. For some home sellers who fail to meet the ownership or use test, or who used the exclusion for another home within two years of sale, a partial exclusion may be available under certain circumstances. See a tax advisor for details.

In Dr. Steve Baldwin’s article titled “Triple Threat in Texas: Ruth, Franna and Sheri,” in the table, Marion Pharr belongs under Franna, not Sheri Mize. The word in the headline should be TREAT, not THREAT. We apologize for the inconvenience this may have caused our readers.