Im selling my house and it is over a year and less then 2years which is long term capital gain. Total married filing 65000.00. I made profit 100k. Does this need to be added to my income which is 165k? if so looks like tax bracket for income is 12%, however I see our income (without capt gain) is under $77,200 which is 0% tax on capital gain.
If i waited 2yrs resident before selling, still need to add to my income but still dont have to pay capital gain tax?
Can someone please explain how this work?
