Is getting your equity without profit considered capital gains

[mz_2727]

For example if we buy and sell our home right away but didn’t make a profit on it other than getting our initial down payment back is that considered capital gains?

[MaryK4]

Not necessarily- it depends on the value of the house.  When you sell a capital asset, the difference between the adjusted basis in the asset and the amount you realized from the sale is a capital gain or a capital loss. Generally, an asset's basis is its cost to the owner.  You have a capital gain if you sell the asset for more than your adjusted basis. You have a capital loss if you sell the asset for less than your adjusted basis.   The equity is separate and has to do with the mortgage or loan used to secure the property and the payments made.  

[fanfare]

If you buy or acquire at one price and sell at the same price you have a capital gain of zero.

but you have expenses of sale which reduce your net proceeds, so you have a capital loss equal to your expenses.

this may or may not be deductible, depending on the purpose for which you bought the house.

@mz_2727