If you would like an update as to how capital gains works on your own personal residence, I found this...

If you would like an update as to how capital gains works on your own personal residence, I found this article in yesterday's SF Chronicle quite informative. If you haven't sold in many years, the rules have changed.
Also – interesting problem – many homeowners have so much gain the “500K married-couple” exemption doesn't shelter enough for some homeowners to want to sell. Let me know if you have questions.
Jeff 415-359-4871