time limit for buying new home after home sale

[momfish]

We recently sold our home. I have read the taxpayer relief act of 1997, and our gain is well below the exclusion amount. My question is how much time to we have to re-invest in our new home. We would like to be able to clear a few credit issues before seeking financing.

 

[HomeGuru]

We recently sold our home. I have read the taxpayer relief act of 1997, and our gain is well below the exclusion amount. My question is how much time to we have to re-invest in our new home. We would like to be able to clear a few credit issues before seeking financing.

**A: post tax questions on the Tax Law forum.

 

[PghREA]

We recently sold our home. I have read the taxpayer relief act of 1997, and our gain is well below the exclusion amount. My question is how much time to we have to re-invest in our new home. We would like to be able to clear a few credit issues before seeking financing.

Read this: http://www.irs.gov/publications/p523/index.html

How much time? As much as you want.