I would think this amount should be included in $500,000 exclusion of sale of your principal residence ($250,000 for filing separately). If the total profit doesn't exceed the exclusion, there is no tax whatsoever.
I would think this amount should be included in $500,000 exclusion of sale of your principal residence ($250,000 for filing separately). If the total profit doesn't exceed the exclusion, there is no tax whatsoever.
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