Quite likely. > Whatever the mortgage was has no bearing on it. Yeah, I realized that and deleted my edit. Editing a third time to point out that we're editi

Quite likely. > Whatever the mortgage was has no bearing on it. Yeah, I realized that and deleted my edit. Editing a third time to point out that we're editing back and forth in real time. Your edit on the mortgage didn't exist at the time I deleted my edit about it. :) Edit: And for those calculating all of this out to determine what percent of the population does fall into the top 1% from a home sale: https://www.irs.gov/taxtopics/tc701 https://www.irs.gov/taxtopics/tc701 : If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.