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Tax on home sale
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If in doubt, please send a new question or ask for an update.
Q: How long do I have after
selling my home to
reinvest to avoid tax on the gain?
A: That reinvestment provision is
no longer a part of the tax law. Most home sales transactions are not
taxable, but in any case the tax status of your home sale has nothing
to do with whether you buy
another home. For more information see IRS tax topics at
http://www.irs.gov/taxtopics/tc701.html
Summary
More resources:
Onlineadviser tax service
