Hi I wanted to find out if I am liable for capital gains taxes on my primary home that I plan to sell. It is the very first house that I have bought. I am an indian citizen and on F-1 visa. India does have a tax treaty with US but I am not sure what the IRS says with respect to capital gains. Can you please help me out. Thank you

Well, according to Page 16 of IRS Pub 519, you are not liable for up to $250,000 in capital gains on the sale of your house if you meet the conditions, which are:

- You must own the house.
- Have live in it for at least 2 of the past 5 years.

There are exceptions (see chapter 15 of IRS Pub 17 and Chapter 4 of IRS Pub 519), but they probably do not apply to you.