I'm trying to figure out the exact sales price of my home that will allow me to avoid any of my money going to the government. I understand being single I have a 250k income exclusion if I lived in my house for at least 2yrs in the last 5yrs, which I have. I bought my house for 300k and plan to sell it for around 600k. My mortgage balance is 170k, does my mortgage balance even matter in this scenario? This seems simple and I've used a bunch of home sale calculators and looked at the IRS website but I'm still not sure. Anyone go through a home sale recently? Your knowledge is appreciated, thanks
Read more: What are my taxes on my net profit from a home sale?
