Primary Residence Tax Referral Duration
I am looking for some tax advice on the sale of a residential property, non investor owned.
A client of mine is looking to sell his home, and move in with his girlfriend. They plan on buying a place in the near future, but are not ready yet. I understand that for investors there is a short 45 day period with which to "identify properties" under IRC Code 1031.
What is the time period that regular people have when they sell their primary residence? I have heard multiple things.
Thank you for the replies.