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Hi Dave, I would be happy to help you with you question. My name is Mark.
I think you will like this answer :)
As long as you lived in the home for past 2 out of 5 years you are able to exclude a gain of up to $500,000 if married.
So in your example, the $70,000 would be tax free.
This is assuming that you never rented your home out or use your home as a home office.
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