How long do you have to buy another home after you sell the one that you have in regards to paying taxes on the profits.?

If it's your personal residence, there is no such provision. If it's rental property, you're probably thinking about a 1031 exchange. If that's the case, then you have two months to identify the new property and six months to close on it, and you must close on it prior to filing your return for that year. There's lots of other hoops you've got to jump through, so check with your CPA to make sure you do it right.

I don't know.

in the United States, no such reinvestment is required if you meet the criteria for not paying taxes on the gain.

however, if you are referring to section 1231 reinvestment and the deferral of capital gain tax, then you can review the required multi-part period in the proper IRS form.

The only thing that matters is how long you lived in the home you sold. After 1997, What you do after you sell the home makes no difference you could buy another home or buy a boat or go on a shopping spree it doesn't matter.

In order to avoid income tax on gains from a home sale you must have

1) Lived in the home for 2 out of the 5 years before you sell it

2) You must have made less than 250,000 from the sale if you're single

3) Or 500,000 or less on the sale if you're married filing jointly.

Before 1997 if you still had taxable gains you could use those gains to purchase a more expensive home and avoid the income tax that way, but after 1997 it doesn't matter.