Can long term capital loss carry over be used to off set 2nd home sale?

[robert1688]

I've owned a 2nd home for over 10 years. I sold that 2nd home in 2022 with a profit. Can I use my long term capital loss carry over to off set that capital gain earned from selling the 2nd home?

[drc845443 · Accepted solution]

Hello there!

The gain on the sale of your home is a long term capital gain. 

You can use your capital losses carried forward from previous years to offset the capital gain on the sale of your 2nd home.

Here is a resource you may find helpful:

https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8