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So I want to become an accredited investor in the "eyes of the government" in order to become partner with a group I will be working for. Basically I need to make $200,00 gross per year for 2 consecutive years in order to accomplish this.
My question is this: I am selling my home, which I have lived in for the last 3 years as my primary residence, and should make around $25,000 on top of what I bought it for. Will this additional amount be included in my gross income for the year? I am basically attempting to determine how much I need to work this year (paid hourly) in order to obtain my goal of making $200,000 this year, and I am curious if the selling of my house will offset this.
Thanks for your help!
My question is this: I am selling my home, which I have lived in for the last 3 years as my primary residence, and should make around $25,000 on top of what I bought it for. Will this additional amount be included in my gross income for the year? I am basically attempting to determine how much I need to work this year (paid hourly) in order to obtain my goal of making $200,000 this year, and I am curious if the selling of my house will offset this.
Thanks for your help!
