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Updated almost 6 years ago,
Avoiding Capitol gains
Can you/I sell a house before two years and not pay any Capitol gains?
I heard that if you re invest all the money's from a sell back into real estate, if you sell before two years that you are not subject to Capitol gains tax.
Is this true? I thought that you had to wait two years to sell to avoid Capitol gains?
Now obviously I'm talking about a primary residence and not a second home or rental, I'm also aware that there are some exceptions to that two year rule but I'm not talking about those.
I'm talking about buying a house, living in it for say ten months or even one year and then selling and buying another house to live in and not pay Capitol gains.
Is there truth to this today? Or it's this something that used to be true in the past?
Thank you all for any input.