Going to sell a rent house this summer that's been in the family for several year but we won't be using the money from the sale to buy another house.
The money from the sale of the house is to be used for future college education and expenses of my kids.
Is there some kind of tax deferred savings account I can shift this money into immediately after the sale in order to not pay one big lump sum of taxes?
We're talking like $200k+
Thanks in advance.
The money from the sale of the house is to be used for future college education and expenses of my kids.
Is there some kind of tax deferred savings account I can shift this money into immediately after the sale in order to not pay one big lump sum of taxes?
We're talking like $200k+
Thanks in advance.
