ATao
Returning Member

Tax benefit from using house sale proceeds to buy new house can save on Capital Gains tax?

I paid a huge amount of Capital Gains Tax last year from selling my primary residence property in November 2022, and then bought a new house (my new primary residence) in November 2023.  I read this is a "1031 Exchange" (a tax break for when you use your proceeds of your house sale for another one in-like condition),  but I didn't do this last year.  Can I still get a tax break, such as partial reimbursement of the Capital Gains Tax paid?  I applied ALL of the proceeds of my house sale (plus more) to this new house.