What to do with this check!?! Tax help please!

[Ryan Truong]

So me and a business partner bought a house for $70k outright. ARV house is worth $130k. I put in the $70k up front in hopes of that he was going to pay his half but over time I saw that wasn't going to happen so I told him to buy me out @ $80k. Now my question is when I get the check for $80k can I just take it to the bank and deposit it. Or will I have to pay taxes on my sell? This home was my primary home too btw. And I live in Florida. Any advice will help thanks BP!