121 tax exemption questions
I've searched the internet & bp but didn't find the specific answers. I understand the 250k exemption for a single filer. My questions are can rehab costs be included with the purchase cost of the next home? Materials & labor? Does it have to be contracted out or can it be done in house? The time frame to purchase the next house? 1 year from time of sale? Or is it within the calendar year. Any other gotchas to look out for? TIA