Jared and Melissa are married. They have owned their primary residence for $10$ years and have lived in it the entire time. They paid $$350,000$ for the house and land and it is now worth $$900,000.$ Due to the property$$s prime location in Stephenville, the City of Stephenville has decided to $$take$$ the property and turn it into a public park and venue. The City sends Jared and Melissa a letter offering to buy the property for $$800,000.$ Jared and Melissa reject the offer and the case goes to trial where a judge determines the value to be $$950,000$ and orders the City to pay that amount for the property it claimed using eminent domain. After Jared and Melissa receive the $$950,000,$ they decide not to buy a new house and instead they live in their camper and travel around the country. Do Jared and Melissa have to pay tax on the money they received? Be sure to fully explain your analysis.