Thank you! Is there a way to separate my actual income from the capital gain. Is this what is meant by the term: 'exclusion'??? Our income is very low and have not had to pay tax for many years - now it would seem that we might be looking at 15% on the capital gain: added to our actual income the amount is significant. But, I did think that we would take our taxable income and add it to the gain, thereby coming up with an even larger figure at which point we would pay tax on that figure. Because, it really is like suddenly get a major pay rise, isn't it? Does this sound correct to you? I appreciate your input.
