I am married and had an adjusted gross income of $91,000 in 2024. I am selling my home in 2025. Will I owe federal capital gains tax?

[DoninGA]

If you sold your primary personal residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years).

Gain or Loss = Sales Price minus Sales Expenses minus Adjusted Basis (Purchase Price plus the cost of improvements prior to the sale)

Selling cost can include escrow fees, legal fees, real estate agent commissions, advertising costs, and even home staging fees.

If you had a gain greater then the exclusion amounts then you would have to report the sale. Also, if you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported.

[Hal_Al]

There is no income limit to claiming the home sale capital gain exclusion. So, your  adjusted gross income of $91,000 in 2024 is not relevant.  

The limit is how much of the capital gain that you can exclude ($500K married filing jointly).

[Mike9241]

if you are single the exclusion is $250,000 and requires you to have use it as your primary residence and owned the home for any 2 years in the 5 years before sale.