There are several factors that go into the determination of whether you will have to pay taxes on the gain of the sale of your primary home.
You bought you home in 1996 and I presume you have lived in it during that time. If so then you would meet the qualifications for the Exclusion for Gain on the Sale of your Primary Home. If you file single the exclusion amount is $250,000, if filing Married Filing Jointly, the exclusion amount is $500,000.
As long as the gain on the sale of the home is below those amounts, there will be no taxable income from the sale of the home.
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