https://ttlc.intuit.com/community/taxes/discussion/carry-over-losses-applied-to-capital-gain-from-sale-of-vacation-home/01/3074156#M1123671 <P>I HAVE SHORT TERM CARRYOVER LOSSES OF $128,000 AND LONG TERM CARRYOVER LOSSES OF $64,000.&nbsp; THIS YEAR, I SOLD A SECOND HOME (NOT PRIMARY RESIDENCE) WHICH I HAVE OWNED FOR 9 YEARS,&nbsp; RESULTING IN A $120,000 NET GAIN.&nbsp; HOW MUCH OF THE TOTAL CAITAL GAIN FROM THE SALE CAN BE OFFSET BY PRIOR CAPITAL LOSS CARRYOVERS ?</P> Tue, 24 Feb 2026 06:41:12 GMT realrez4589 2026-02-24T06:41:12Z https://ttlc.intuit.com/community/taxes/discussion/carry-over-losses-applied-to-capital-gain-from-sale-of-vacation-home/01/3074156#M1123671 <P>I HAVE SHORT TERM CARRYOVER LOSSES OF $128,000 AND LONG TERM CARRYOVER LOSSES OF $64,000.&nbsp; THIS YEAR, I SOLD A SECOND HOME (NOT PRIMARY RESIDENCE) WHICH I HAVE OWNED FOR 9 YEARS,&nbsp; RESULTING IN A $120,000 NET GAIN.&nbsp; HOW MUCH OF THE TOTAL CAITAL GAIN FROM THE SALE CAN BE OFFSET BY PRIOR CAPITAL LOSS CARRYOVERS ?</P> Tue, 24 Feb 2026 06:41:12 GMT https://ttlc.intuit.com/community/taxes/discussion/carry-over-losses-applied-to-capital-gain-from-sale-of-vacation-home/01/3074156#M1123671 realrez4589 2026-02-24T06:41:12Z https://ttlc.intuit.com/community/taxes/discussion/re-carry-over-losses-applied-to-capital-gain-from-sale-of-vacation-home/01/3074164#M1123672 <P>Your capital loss carryovers should wipe out your entire capital gain on the sale of your second home.</P> <P>&nbsp;</P> <P>I presume the second home is not used for business or rental purposes.</P> Wed, 28 Jun 2023 16:04:22 GMT https://ttlc.intuit.com/community/taxes/discussion/re-carry-over-losses-applied-to-capital-gain-from-sale-of-vacation-home/01/3074164#M1123672 Anonymous_ 2023-06-28T16:04:22Z