Gorno
New Member

1040-SR Line 16 tax computation after home sale ?

If a retired couple with pension incomes totaling $100,000 sell their home of many years and realize a $500,000 long term capital gain (after $500,000 exclusion), how is the 1040-SR line 16 tax computed?   I cannot imagine how our line 16 tax gets computed.   

 

Thank you,

Gorno