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$280,000 - (131,500 + 5000) = $143,500 Long term capital gain. None of it will be taxable if you meet the 2 year rule.
The $11,000 depreciation recapture will be taxed at your marginal ordinary income tax rate (not LT capital gains rate), but not more than 25%.
If you miss the May 2020 target sale date, the $143,500 will be taxed as a long term capital gain and the $11,000 as ordinary income (technically, section 1250 gain).
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