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Capital Gain Tax on Primary Residence
I am 82 years old and my wife passed away in 2020 so I sold our home this year for $385,000. We bought it in 1998 for $98,200. Do I have to pay capital gain tax on any profit over $250,000? I have always used the free version of Turbo Tax. Will I be able to use this version to do this years taxes since I have to include this? Also, I have moved in with my son and am wondering if there is any tax benefit for him since I am living in their house. Thank you for your help.
‎November 16, 2022
11:01 AM