@lizgordon wrote:
I thought there was a process in which if we rolled over the profits within so many months to another investment we could avoid capital gains on the second home.
If the second home was an investment property and not a personal residence then you can do a 1031 exchange to a like kind property.
See this IRS website - https://www.irs.gov/businesses/small-businesses-self-employed/like-kind-exchanges-real-estate-tax-ti...
Also review this website for like-kind exchange rules - https://www.investopedia.com/financial-edge/0110/10-things-to-know-about-1031-exchanges.aspx
