<<Repeat of my post 20538 Need some advice. Bought a vacation home (Condo) 3 years ago. Selling that for a gain of about $10.K and buying another vacation Codo for slightly more than the 10K gain. Is the $10.K gain taxed as Capital Gains, or does it just adjust (subtract from) the cost base of the new Condo? Also, I assume that one can only deduct the interest and taxes on one vacation home (Condo) at a time when their is months of overlay in ownership? Thanks for the response, Dick>>Yo!! Dick!!I responded to this question yesterday (the 7th). Go back and check out my response at that time. If you can't find it, please let me know and I'll be more than happy to lead you in the right direction.TMF TaxesRoy
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