06-09-2007, 06:28 AM
The reivestment is 18 mos. for those who have lived in their house less than 24 out of the last 60 months (there are a few circumstances that can allow for fractional computation) or who have gains over $250k ($500k for a couple). For those that do not qualify, & sold a house, they do need to reinvest, or pay taxes on the gains.