No, you do not need to pay capital gain taxes on the sale of your home provided you qualify for an exclusion:
- if you sold your personal primary residence,
- you lived in and owned the home for at least two years of the five year period on the date of sale,
- and your gains are less than the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in and owned the home for two years).
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- For more information see IRS Publication 523 on the Sale of your home.
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