I just recieved a tax bill for $155k for 2017. That year i sold a home for 380k. After escrow closed between my mortgage pay off and fees/realtor cost I profited 80k. I lived in the home for >5 years and was exempt from capital gains tax on my 80k.... why do I owe anything especially that much? who is to blame for improperly reporting to the IRS, mortgage company or realtor? how do i begin to fight this?
