Can someone verify if this is true?

Married filing jointly, income <80k.

I sold my home after living in it for less than 2 years, and after subtracting all of the money we put into it, we made about 5,500 dollars in gains. I reported this on my taxes this year, however I didn’t see any of that subtracted from my return. I asked the turbo tax agent and he said that I was covered by the standard deduction so I didn’t have to worry. Is that true?

submitted by /u/labraat007
[link] [comments]

Married filing jointly, income <80k. I sold my home after living in it for less than 2 years, and after subtracting all of the money we put into it, we made about 5,500 dollars in gains. I reported this on my taxes this year, however I didn’t see any of that subtracted from my return. I asked the turbo tax agent and he said that I was covered by the standard deduction so I didn’t have to worry. Is that true? submitted by /u/labraat007 [link] [comments]

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