Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I am selling my home and will be renting while I return to school full time in another state. Once I finish school, I plan on purchasing another home. What are, if any, the capital gains consequences if I don't purchase the home for 2-3 years or purchase one at a lesser price than the one I am selling?

I was hoping to use some of the funds from the sale to survive and pay for school and definately can't afford the mortgage while in school.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.