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New Member
posted Apr 2, 2024 8:22:25 AM

Capital Gains

Hi,

I sold stock in 2023 (and received capital gains) to fund a down payment on my first house. I did not however seem to receive any tax benefit (for the home purchase) and instead paid a significant federal tax on the capital gains. I thought I would receive some breaks since the money was used for a home down payment?

thanks

0 2 869
2 Replies
Level 15
Apr 2, 2024 8:24:26 AM

No. One transaction has nothing to do with the other. 

Level 15
Apr 2, 2024 9:58:24 AM

Live and learn.

Next time, sell a position with a loss, not a gain ,if you have one.

 

@NM1126