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May 27, 2024
Question

Can a capital gain from investment property sale be used on my primary home mortgage to avoid the capital gains tax from sale and how would that be reported in turbo tax?

  • May 27, 2024
  • 2 replies
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2 replies

Employee
May 27, 2024

No. 

 

However, you may be able to do a 1031 exchange if you replaced your investment real estate with other investment real estate.

 

See https://turbotax.intuit.com/tax-tips/investments-and-taxes/1031-exchange-how-it-works/c998pvsTp

May 27, 2024

if you already received the proceeds from the investment property sale it's too late to do a 131 exchange