CARRY OVER LOSSES APPLIED TO CAPITAL GAIN FROM SALE OF VACATION HOME

[realrez4589]

I HAVE SHORT TERM CARRYOVER LOSSES OF $128,000 AND LONG TERM CARRYOVER LOSSES OF $64,000.  THIS YEAR, I SOLD A SECOND HOME (NOT PRIMARY RESIDENCE) WHICH I HAVE OWNED FOR 9 YEARS,  RESULTING IN A $120,000 NET GAIN.  HOW MUCH OF THE TOTAL CAITAL GAIN FROM THE SALE CAN BE OFFSET BY PRIOR CAPITAL LOSS CARRYOVERS ?

[tagteam]

Your capital loss carryovers should wipe out your entire capital gain on the sale of your second home.

I presume the second home is not used for business or rental purposes.