Greetings,
In August 2022, my husband and I sold a rental property (residential) and we are building a new home. The new home is projected completion March 2023. Can we roll over all or some of the proceeds from the sale of the rental property to our new home without being tax? Also, we will sale our home where we currently reside. Can we roll the proceeds to the new home as well?
This is our first sale of residential property and want to know how to minimize the tax amount. Your expertise is greatly appreciated.
Happy Wednesday!
BWoods
