Maybe. As long as you owned and lived in the home for two of the five years before the sale, up to $250,000 of profit is tax-free. And if you’re married and file a joint return, that amount doubles to $500,000. If your profit from the sale is more than that, the excess is reported as a capital gain.
You may also just want to file a return to record the date of when you sold your home. You may buy and sell as many primary homes as you'd like, but you'll only get this tax benefit every two years.
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