Capital Gains for a Home Down Payment

[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

[xmasbaby0]

Sorry---there are no credits or deductions for making a down payment on a house.   

[xmasbaby0]

Are you confusing that with the "old" law that allowed people to avoid capital gain tax if they sold a house and reinvested in another house?  That tax law changed in 1997.