Deductions & credits

You can use the schedule D worksheet for 2023 to get a rough estimate. you left off items like your spouse's net income rather than gross. there's a deduction for 1/2 any self-employment tax she owes and a further reduction if she contributes to a retirement plan. You did not specify your ages or whether you use the standard or itemize and if you itemize what's your guess for 2024. There may be other items of importance that can affect your 2024 taxes.

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There's also a kicker. the gain on the home sale is considered investment income. The lesser of net investment income or your adjusted gross income over $250,000 is subject to a 3.8% net investment tax in addition to the regular income taxes. This is not on schedule D.

 

To get an idea of your 2024 taxes you can use Turbotax tax calculator. it's for 2023 but it doesn't show the tax calculation

https://turbotax.intuit.com/tax-tools/calculators/taxcaster 

 

Another option might be to buy the desktop version of the 2023 software for an APPROXIMATION OF 2024. Then you can more easily do what-ifs and see the tax calculations 

 

As a guess, at least $400,000 of the gain will be taxed at 15%.  You should do your own calculations. 

 

 

also are you subject to state income taxes