Atlanta, GA asked in Real Estate Law and Tax Law for Alabama

Q: Taxation after selling a house

Will I be panelized on the sale of a house if I don't put all the money into buying another one? And how long do I have And how long do I have to buy a new one after the sale?

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1 Lawyer Answer

A: The last time I looked, if the house is your residence, there is no tax unless the house was worth more than $500,000. Before relying on this advice you should check it out with your CPA or tax lawyer.

1 user found this answer helpful

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