Does the one time tax exemption still exists in California when you turn 55 years old? When you sell property and use the money to buy a new property?
I sold my property in Tucson Arizona and the gross sale was $68.000 and the net money $54.667.12 dollars. I used the money to buy a house in Tehachapi California for $250.000. The money went towards the move and the purchase of the new property.