Capital gains on the sale of second home

[Barry135]

I had a $3000 refund before I entered my capital gains on the sale of my vacation home. My taxable income is low enough that I should not pay capital gains tax, but refund went down $1600. Why

[DoninGA]

The capital gains are entered on your tax return as ordinary income on the Form 1040 Line 7.  It is included in your taxable income on Line 15.

[MarilynG1]

Here's details for How to Enter Sale of Second Home, Inherited Home or Land.

If you had a Capital Gain on the sale of your vacation home (make sure you included Sales Expenses in the Cost Basis), here's detailed info on How Capital Gains are Taxed that may provide insight for you, since we can't see your return in this forum.

@Barry135