Hello Trekie1!
On the federal level you will only pay capital gains on the sale of your home if:
- "If you have a capital gain from the sale of your main home ( and second home), you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse."
There are other qualification according to the IRS, please see following link for more details: https://www.irs.gov/taxtopics/tc701
I hope this helps.
Thank you for using TurboTax Live!
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"