@NCperson - So for clarification:
I make $100,000 a year.
I sell the house for a $218k profit.
So I will have to add my income and the profit together, $318k, and get taxed at that rate? Would I be put in a new tax bracket? So instead of 22% (based on my job income, marginal rate) I would get taxed at 32%?
Or just tax the $218k at the 22% for my marginal tax rate (from my job income).
