Yes, the home qualifies for the $250k exclusion, but that leaves 200k as a taxable Capital Gain? I guess I mis-read some tables. I thought if your income was less that 41k, you paid zero capital gains.
I think on re-reading, the tax is zero for the first 0 to 41k in capital gains, then 15% on higher amounts, maxing out at 20%.
Does that sound correct?
Oh, and thank you for the reply!
GL
