Rolling profits from the sale of my house to an IRA?
I know I could roll home sale profits tax free (at least for now) to buy another house, but I can not anyting similar to roll in a tax-free college fund / IRA of anykind?
The benefit of selling your home is exempt from taxation if you lived in this house two of the five years immediately before the sale. Up to $ 250,000 are exempt if the condition of your deposit is unique and is exempt up to $ 500,000 if married to a joint statement. You do not have to buy a replacement home for the exclusion. This is the old "rule rollover replacement "and was carried over from a waiver, which was rejected 10 years ago. If you want to save some of the benefits in an IRA is free to if you are eligible to make an investment of the IRA, which has much less in the tax base and you have not already contributed the maximum amount for the fiscal year in question. If the benefit is tax free, I recommend a Roth IRA earnings are tax free upon withdrawal, if you wait until age 59 1 / 2.
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