I upgraded my 2nd home in Portland, Oregon by selling a condo and buying a house. Is the profit on the condo taxable in the state of Oregon?

[mbheadrick]

The house cost more than the condo so all profits from the Condo was reinvested in the house.

[SweetieJean]

Neither the IRS nor Oregon cares what you did with the profit.

[jerry2000 · Accepted solution]

There is no tax connection between selling a personal use property, such as a second home and buying another other personal use property. What you used the proceeds from the sale for is of no tax interest at all. A loss on sale of personal use property is not taxable, a gain on sail of a personal use property is fully taxable as a capital gain.