Wednesday, July 13, 2011

I am on SS disability I want to sell my home & buy a smaller one. How long do I have to reinvest?

I own my own home in a rural area of WI and I want to sell it and move closer to town and in a smaller house. Are there social security guidelines (timelimits) as to how long I have to re-invest before the money I earn on the sale becomes a reportable asset? I would like to sell first and put the money in the bank until I find a new house. ALSO as an alternitive, if I rented out my house is that considered income if I pay it on my morgage?

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