Legal Question in Traffic Law in South Carolina

Tax free home sale

I have a small home in Fla. which until 2 1/2 yrs ago was my permanent residence. I have bought another home in SC & have been renting the Fla home. I would now like to sell it to qualify for the tax free sale. What would be the pitfalls if I sold it to a family member, & if in a few years I bought it back as a Vacation home? Would this be illegal? Thanks

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Asked on 6/28/03, 3:09 pm

1 Answer from Attorneys
Robert Johnston Law Offices of Robert J. Johnston

Re: Tax free home sale

I am not a tax lawyer. I would suggest you either go back and resubmit your question to a lawyer that practices in tax matters, or ask a CPA.

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Answered on 6/28/03, 5:49 pm


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