do I have to pay capital gain taxes on my main residence?
Sellers Answers

The answer is no. provided you meet the following criteria;

It must be your main residence. Vacation homes, rental homes and investment homes do not qualify.

You must have lived in you main home at least two years during the past five years. confusing?

Lets say you have owned a home for at least five years. If you lived in it at least two years out of the five years you owned it your capital gain is tax free. the two years don't have to be consecutives as long as they are within the five year period.

It gets a little more detailed but if you are confused please call my office.