I’m afraid your financial info is incorrect. Shocker. To be a capital asset and pay capital gains taxes on it, you have to hold the asset for a minimum period. The cash from the sale was taxed at capital gains rates just a few months after I received it. So what was the capital asset that permitted the reduced tax liability?Shame you didnʻt read the January 2017 multi agency intel report. It was only 25 pages. Pretty entertaining to be honest.
Your house was collateralized debt. The Cap gain$ is your asset after sale. Finally. 1031 exchange?
Hint: it was not the cash.