Avoiding getting taxed when moving out a primary home

[Shiela Gerasimenko]

We are trying to purchase a property from a couple who is having trouble keeping up with the mortgage on their new home. They have only been living there for less than a year. What deal can we do to purchase it but also help them avoid being taxed for selling their primary home too early?

[Wayne Brooks]

@Shiela Gerasimenko If they have only been there a year, there is probably very little gain to worry about...especially considering closing costs to buy and sell along with any improvements they made.