Section 1034
Section 1034 means:
the part of the Internal Revenue Code that deals with sales of personal residences. Generally, there is no recognized gain or loss on the sale of a personal residence provided that another one is purchased within 2 years of the sale date of the old one. Also, the new one must cost at least as much as the adjusted sales price of the old one (sales price less expenses of sale and fixing-up expenses).
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