@barretthackbart I think you may misunderstand how that capital gains tax works.
Let's say your 2024 taxable income is $40k and the home sale did indeed occur in 2024 and the profit was $80k.
When you state "taxable income" that means you have already subtracted the standard deduction ($14,600 filing SINGLE) from your adjusted gross income.
So your total taxable income is $120k. Since there is no capital gains tax up to a combined taxable income of $47k and your earned income is $40k, the first $7k of the capital gain would be taxed at 0%, but the remaining $73k of capital gain would be taxed at 15%.
I suspect from the way you wrote the post, I wonder if you are thinking that if the sale was counted in 2024, the tax would be zero, since your taxable EARNED income is less than $47k. That is not the way it works.
