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If a taxpayer sells his principal residence and buys another one for use as a principal residence within two years before or after the date of sale, the gain on the sale will not lie currently taxed. This holds as long as the cost of the new residence equals or exceeds the selling price of the old.
If the cost of the new residence is less than the selling price of the old. the gain is taxed only to the extent of the difference.
Where the taxpayer builds, rather than buys, construction must be started from two years before and occupied by two yeais after the sale to get the same tax break. This tax avoidance of the sale profit is calfed “rolling over" a home
71.9%