My fiancee and I both own our own homes. He plans on selling his and moving into mine. Will he have to reinvest his proceeds into another home to avoid the Capital gains tax and how long does he have to do so? He will make under $250K on the sale.
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You will want to confirm with your own tax advisor, but he will need to reinvest that money in a home to avoid the Capital Gains Tax within 2 years. -
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