1031 Exchange?
Hello,
Recently I sold my primary residence (condo) after staying in it for few years and got some good appreciation when I sold it. My title company told me they will report the money that the buyer gave me (after paying to Mortgage bank, agent, etc) to IRS.
Do I have to pay tax on it? If so, what are my options?
Btw I did brought another house (before selling my primary residence-condo), which is now my primary residence.
Thanks,
Hiren