Do I owe taxes on the gain from my home sale?:confused:

You can exclude up to $250,000 of the gain on the sale of your main home if all of the following are true.
During the 5-year period ending on the date of the sale, you must have: Owned the home for at least 2 years and Lived in the home as your main home for at least 2 years. If you can exclude the profit, then you don't need to report the sale.