Can you take capital gains from a second house and build another house on already owned property
I am selling a vacation home, can the capital gains from this sale of this home be used to build a house on another property that I already own to reduce the amount of capital gains I pay?
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1 Best answer
Hal_Al
Level 15
Jun 4, 2019 1:29:59 PM
No. It doesn't matter what you use the money for. The capital gain on a vacation-2nd home is subject to tax.
1 Replies
Hal_Al
Level 15
Jun 4, 2019 1:29:59 PM
No. It doesn't matter what you use the money for. The capital gain on a vacation-2nd home is subject to tax.