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I was in a conversation this evening about what happens when sells a house/property. I said that if one doesn't buy another property within two years then a tax event occurs. I was told that unless it is a commercial piece of real estate that there are no taxes at all, no need to reinvest in another house. That could very well be true, but that is new to me. My question therefore is, what is the accurate answer in this case? Thanks in advance.
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