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What is your filing status? Are you able to calculate what your gain is?
Okay, let's go back. What year did you sell the house?
If the house you sold was your main residence, you owned the home for at least 2 years, and used it as your main residence for 2 of of the past 5 years, you are not taxed on a gain of less than $250,000 ($500,000 if Married Filing Joint). You do not need to report the sale if this situation applies to you.
If all you received is $50,000, and the above requirements are true, you do not need to report anything at all.
See this link for reference: http://www.irs.gov/faqs/faq/0,,id=199598,00.html
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