Selling a house and waiting to buy again?
I understand you have a year to reinvest the money from the sale of a house to purchase another to avoid being taxed.
Is there any way around this? We plan to sell our house and do not want to buy another in the same area. My husband wants to continue working another two years before retiring. We thought we'd rent for two years and then move to different state.
Is it mandatory to buy another home within a year of selling?
Any info would be appreciated,