sarwate@uicsl.UUCP (11/22/85)
In buying and selling a home, the tax on the capital gain is deferred if your new home COSTS more than your old home. There are various technicalities which adjust the various prices involved, and the new home must be purchased within a certain time period of selling your old home. Note, however, that it is NOT NECESSARY to invest all the money obtained from the sale of your old home into your new home in order to qualify for tax deferral. Dilip V. Sarwate ihnp4!uiucdcs!uicsl!sarwate sarwate%uicsl@uiuc.arpa