Capital Gains

[NM1126]

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

[Bsch4477]

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

[fanfare]

Live and learn.

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

@NM1126