Again----that tax law that helped people avoid capital gains by purchasing another home ended in 1997. The only significance of buying another home is that if you itemize deductions you can enter the mortgage interest, property taxes and loan origination fees you paid in 2022 for the new house. The purchase of the new house does not in any way offset your capital gains. And no, you do not have two years to enter the information about the sale of your former home. It goes on your 2022 tax return.
Seriously---seek professional tax help from a pro who will explain all of this to you in detail.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
