Right! I knew I had it wrong....thanks for correcting me! I am roughly guessing that I will owe the IRS around $15,000 - possibly less - based on 15% of the taxable capital gain after deducting the exclusion and all allowable expenses like upgrades (AC, Furnace, hot water heater, etc.) fans for rebuilt, stage furniture and videos for advertising. I will depend on Turbotax to guide me through these questions, since no accountant or CPA is available anytime soon. THANK YOU AGAIN for your guidance and patience!
