Deductions & credits

you can't use 1031 on a personal residence and the deferral of gain by buying a new house has not been in the tax code for decades.

 

there is a possiblle home sale exclusiom available of up to $500K.  

assuming you are married then one spouse or both must have owned the property for any of 2 out of five years before sale, and again assuming you are married both must have occupied the house as their main reseidence for 2 out of 5 years befor sale.  if yo ever rented the property there are anddition rules whic would require any deprecition allowed or tken to not qualify for tthe exclusion. thisexclsuion can only be used once every two year from the date of the prvious sale. 

 

if you don't meet both 2 year rules a reduced exemption each having special rules may be available due to

job chage or

move for health resons or

move due to unforseen circumstance 

 

there is the home sale worksheet  that should take you through all the scenarios.