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Deductions & credits

I purchased the house in 2016 and will be selling it as of December 2019.  It has been my primary residence.  I stand to make $50,000 on the sale of the home.  I plan to use that money to repay debts (credit card and student loans) rather than reinvest any of it in a new house.  Will I have to pay taxes eventually because it's not being reinvested?  Will the $50,000 be considered income?