So I have a long term gain of around 3500 dollars and a short term loss of around 2400 dollars. What will my tax consequences be for the year 2000 if I sell these stocks and put the money into a new home?You will have a net capital gain of $1,100 taxable at long term rates of 20% or $220 in taxes just for the gain. I would assume that the new home will generate a higher home mortgage deduction for you and might offset this taxable gain in additional itemized deductions.
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