250 / 500 section 121 exemption

[RWG1950]

Older married couple have owned a home purchased for $300-K nearly 30 years ago. Meets all section 121 tests.
Probably worth about $550-K now. Husband died in September of 2023. Surviving spouse tells me she is about to sell the property.
If the surviving spouse sells the residence in 2024 will she have a $250-K exemption or is there an extra amount of time to use the $500-K ?
Thanks for comments.

[kathyc2]

121(b)(4)
Special rule for certain sales by surviving spouses

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 “$500,000” for “$250,000” 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 such date of death.

[rbynaker]

She likely also gets a step-up in basis.

[RWG1950]

These are both good reply posts. Thanks for helping an old man out.