Sold primary & secondary home same year

[Jenifer72]

Husband’s job relocated him out of state, we had to sell both our primary & second (vacation) homes to be able to afford the new home purchase which is located in a more expensive market.  We used the proceeds from both sales for downpayment & renovations on the new home. Is there a way we can we lower the capital gains of the vacation home since it was used towards the purchase?

[Vanessa A]

No.  As an individual selling personal property, the sale of the home is the sale of a home.  What you did with the money from the home does not affect how it is taxed or how much of it is taxed.