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Tax Laws for Sale of Condo

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valeryvie

Guest
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
 



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