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You have owned and lived in your home for 8 years. Now you have received an excellent promotion, but you will have to sell your
You have owned and lived in your home for 8 years. Now you have received an excellent promotion, but you will have to sell your home and move to another community. You expect to realize a capital gain of $100,000 on the home's sale. The capital gain will a. not be taxable because the home was your principal residence. b. not be taxable because this is a job-related move. c. be taxable as ordinary income. d. be taxable at the appropriate long-term capital gains rate. e. be taxable at the 15% tax bracket.
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