In many cases, selling your home can lead to taxable income, but there are also situations where it may not be taxable. Here’s a general overview:

1. Primary Residence Exclusion: If the home you’re selling is your primary residence and you’ve lived in it for at least two of the five years before selling, you can exclude up to $250,000 of capital gains from your income if you’re single, or up to $500,000 if you’re married filing jointly. This means if your profit (capital gain) from the sale falls within these limits, you won’t owe any taxes on it.
2. Capital Gains: If your profit exceeds the exclusion limits mentioned above, the excess amount may be subject to capital gains tax. Capital gains tax applies to the difference between your basis in the home (typically what you paid for it, plus any improvements) and the selling price.
3. Investment Property: If the property you’re selling is not your primary residence, such as a rental property or a vacation home, the gains may be subject to capital gains tax. In this case, you won’t qualify for the primary residence exclusion.
4. State Taxes: Additionally, you may be subject to state income taxes on the sale of your home, depending on the laws in your state.
5. Exceptions and Special Circumstances: There may be exceptions or special circumstances that could affect the taxability of the sale. For instance, if you’ve claimed depreciation on your home as a rental property, there could be different tax implications.

It’s always a good idea to consult with a tax professional or accountant to understand the specific tax implications of selling your home based on your circumstances and the tax laws in your area.