Do I have to pay Capital Gains?

[James Boreno]

Hello BP Fam,

One of my SFH caught on fire and I'm in the process of selling it to a contractor. Had a quick question.

I purchased the property for $500K about 10 years ago

I'm selling the property for $575K with the Fire Damage

I received an insurance check of $380K for the fire damage.

After Paying off the Mortgage + Escrow + Realtor Fee's, I'll be left with about $150K.

My question is will I get taxed on this $150K?