How long do I have to invest the money I received from property I sold in 2006?

If it was your main home for the past 2 years out the last 5 years...you aren't required to reinvest it in another property.

But if the sale was a property other than your primary residence, I believe you have 18 months to reinvest.
And if it was a rental property, usually owners do a 1031 exchange to avoid paying taxes, but they need to reinvest the sale proceeds to another property that is similar within 18 months. FYI, a 1031 exchange is a third party company that handles the sales proceeds from one property to another.

Here is the link to IRS website for more information about capital gains.
http://www.irs.gov/faqs/faq-kw113.html


You could probably find out if there is a local real estate hotline that offers free advice in your area. Either do a web search online or call a local broker.

Hope this helps!

mutual fund is best option. you can redeem any time

If you sold a personal residence, there is no requirement to invest the proceeds in any thing. The old deferrral rule on sale of a personal residence was tossed about 10 years ago.

6 months if it was income property, and you better work with someone on the 1031 exchange details. if you took the money from the sale out of escrow holding at all... you will most likely pay taxes (because you have been making interest on money that you are telling them you are deffering to a new sale)

look up and call persons on 1031 exchanges.

You do not have to invest the money at all.

If you were trying to do a tax-free 1031 exchange, it is too late since you cannot every have control of the proceeds from the property sold.