Capital gains tax
I am a single filer and selling my primary residence. After all of the capital improvement basis figurings and allowable $250K exclusion for my filing status, I will expect to clear about $250K in long term capital gains. I would like a tax professional to confirm that as a single filer with a taxable income less than $41,000, that my tax rate on long term capital gains is 0% (per IRS guidelines for 2023). Have I understood the IRS guidelines correctly? Will I owe no tax on the $250K capital gain? Many thanks.
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