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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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74 years of age income of $54000 this past year. Sold my

Customer Question

74 years of age income of $54000 this past year. Sold my home after taking the $250000 deduction and expenses I have $248000 profit. What would I have to pay taxes on? What percentage would it be?
Submitted: 1 month ago.
Category: Tax
Expert:  Robin D. replied 1 month ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  Robin D. replied 1 month ago.

Can you please let me know what your cost of the house was and if you made any improvements over the years.Also what was the sale price of the home (and the expenses you mentioned).

Expert:  Robin D. replied 1 month ago.

Your income of $54000, was that from wages, SS, Pension, or what.

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