My parents bought a property 30+ years ago in what used to be a boring TX town. They paid $150k. Several years ago, they took out a reverse mortgage and now owe $450k. The town boomed and they need to sell due to impending long-term care costs for dad’s dementia. They make about $70k/year in social security and retirement. They have a contract for $4.8 million (it was $7.7 million in 2023 but that fell through with the bottom of the market) and mom is trying to calculate what taxes would be. Talk to me like I’m a 5-year old here. I could write the next great American novel but dang if I can’t math!