Reported.  Inappropriate use of an anonymously asked question.  Ask your professor.  

Contact your CPA or tax attorney.

A personal home or an investment?

Best to talk to a finance expert who deals in real estate.

You can go on the IRS website or call a CPA. I know you want us to answer but I would say that it is going to get taxed plain & simple. There are many exceptions that you might check out like relocation, divorce too I believe.

Contact your CPA

We, as Realtors, are not qualified (nor insured) to answer tax questions.  Please consult with your tax professional.

In a nutshell, you need to consult with a CPA! 

It's in the text book... try reading it.

You should talk to a CPA or tax attorney.  Or you can do some research.  Google "capital gains" you will get 175,000,000 results.

You will find this information on the IRS website.

that's the type of question you direct to a CPA.... it's not a question to be answered by a real estate agent....

Wow, so many "great" answers.

I think, somebody did not open the book :)

Consult with a CPA.

Contact your CPA.

Yes. A CPA can tell you for their normal hourly rate and their answer would be within their licensing criteria. 

That's a question for a tax advisor or CPA. Good luck.

These rules are diverse and changing. Seek the master of this subject matter

low

Not in a nutshell. 

First, you don't state whether this is an owner occupied home or one used for investment, or a second home...   Be careful!  Always be "The source of the source, but never the source".

This is outside the scope of our license.  Beware that Sellers may tell you one thing and in reality, another thing is the reality according to their non-selective facts.  Then, trying to get out of a tax bill, they WILL point their finger at you saying you told them [whatever].  When it comes to money, or tax savings, people will lie.  Be careful.

Lots of gears turning, but generally, some exceptions apply (presenting this for your own personal knowledge):

The regulations provide a safe harbor for any of the following events occurring during the taxpayer's ownership and use of the residence as the taxpayer's principal residence:

1. Involuntary conversion of the residence;

2. Natural or man-made disasters or acts of war or terrorism resulting in a casualty to the residence;

3. In the case of a qualified individual:a) death; b) the cessation of employment and eligible for unemployment compensation; c) the inability to pay housing costs and basic living expenses d) court ordered divorce or legal separation e) multiple births resulting from the same pregnancy.

4. An event determined by the Commissioner to be an unforeseen circumstance to the extent provided in published guidance of general applicability or in a ruling directed to a specific taxpayer.

I highlighted 3(e) as I always thought it was the result of having more women in the legislature, which is a good thing.  My hunch is only they would think of that, most men wouldn't, but it is a fair exclusion.  Begs the question:  It is in the same household...  What if it was a live-in Nanny?  

That's why you have to be careful, and not give out tax advice.  ALWAYS HAVE THEM CONSULT THEIR TAX LAWYER, CPA , OR TAX PREPARER.  Their co-workers who they talk to over the water cooler don't count!
Answered for your own personal knowledge, Be Careful when talking taxes--you have not seen their previous returns, or their current financial situation.

   Do a Section 1031 tax deferred exchange.

Talk to your CPA.

Too many missing variables, and even if they were supplied, you really need ot speak to your attorney or tax accountant. They are the only ones that can truly tell you how this will affect your personal situation.

Talk to a CPA

We also wrote a recent article talking about CGT: "How Capital Gains Tax Can Be Reduced or Deferred When Selling Property" 

That's a question for a CPA.

I always recommend my seller contact a CPA.

Contact the proper professional

Yes.  But I'm not going to explain it to you.  Ask your CPA, don't have one?  get one.

You need to call CPA with exact numbers. 

Mostly likely the gain would be treated as ordinary income ( less than 2 yrs)

Contact your accountant.. this is not a question for this forum..

Your CPA can explain it in a nutshell!

Talk to an accountant.

What everyone said....

You should be talking to a CPA