Tax Question - Liquidating Index Fund to Make Down Payment

[Jesse Smith]

Hopefully a tax professional can offer some perspective on this one.  

We are selling our primary residence and purchasing a new primary residence.  Unfortunately, or current residence has not yet sold.  Therefore, we will be liquidating shares of our Vanguard index funds (held in a general brokerage account) to make the down payment.  When our primary residence sells, we will use the proceeds to re-buy the index funds.

My question - I will be liquidating $65,000 from VTSAX and re-buying the same amount at some point during this year (once we get the funds from our home sale.)  Will I have to pay the capital gains tax on the $65,000 that I sell, or will my re-buy offset that sale?  

Thanks.

[Caleb Heimsoth]

@Jesse Smith Your rebuy will not offset capital gains taxes from the 65k in index funds. How much taxes you pay depends on how long it was invested and your basis. If you dumped 50k into it say 9 years ago, then you pay taxes on 15k as long term capital gains at 15 or 20 percent. If it’s been less then a year your gain be taxed at whatever your tax bracket is. No tax advice given