If you qualify for this exclusion, you may do anything you want with the tax-free proceeds from the sale. You are not required to reinvest the money in another house. But, if you do buy another home, you can qualify for the exclusion again when you sell that house. Indeed, you can use the exclusion any number of times over your lifetime as long as you satisfy the necessary requirements.
Join us this Tuesday to learn more on the Bottled Business Sense Show.
Bill Bernard – WFBLegalConsulting.com
Rick Moscoso – Captivate365.com
The Bottled Business Sense Show provides practical business perspectives that uniquely emphasize both legal and media marketing strategies that protect and insure the longevity of your business.