Challenge #362: Capital Gains Tax when Selling a Home

[mattbov92]

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[Louie-Horn]

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[Erin]

I admit, I had to get help from the posted solution for this. Taxes are hard.

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[mkeiffer]

Here is my solution! 

[Alesson_Oliveira]

my solution

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[Salum0405]

Here's my solution

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[Will_Condon]

I'm not paying the solution amounts because they do not subtract the exclusion of Gains ($250k or $500k) from the taxable figure.  My accountant came up with a way to save on taxes.  I have Janet and Jerry White paying $136,000. Tell me where I went wrong.

If ever there is a reason to use a spreadsheet for this calculation, this is it.

Workflow:

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[Nicholas_14]

This is what I came up with; there's definitely a more efficient way to do this.

[calvingao]

Challenge 362 Solution (Not accounting for exclusions)

[aiahwieder]

It has been a solid decade since my Individual Tax class, but I am solidly certain that the taxable portion of the capital gains is the amount in excess of the exclusion.

Nonetheless, a solid puzzle!