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Deductions & credits
I’m trying to understand the dollar amount possibly I have to pay this year. We made about 100k on our home since we purchased 6 years ago. Is the 25% tax based on these gains?
If so it doesn’t make sense taking a home office deduction to lose this much with a sale of a primary home. Or do we still fall under the allowable gains of 500k when we sold our primary home.
March 6, 2023
7:13 PM