Tax Laws for Sale of Condo

Hi -

My parents are selling a condo and moving to an apartment - they are concerned that they need to reinvest the money form the condo into another property within 2 years, but don't want to - I thought I read somewhere that there is a special exception for seniors - can you tell me if there is a special senior citizen law concerning how much they can make and keep on the sale of a property without being taxed?

Thanks Mucho!

V

[HomeGuru]

There is help for them.
Post on the Tax Law board.

Thanks!

[HomeGuru]

Good luck.