John sold a house during 2022. He owned the home, and used it as his primary residence, for the past 25 years. He purchased the home for $125,000 and sold it for $645,000. John is married and files a joint return with his spouse. How much gain must John include in his gross income related to this sale?

Answer rating: 100% (QA)

In the United States John likely does not need to include any capital gains tax on the sale of his p... View the full answer