Your home is likely your largest asset, so there is no doubt when it comes time to putting it up on the market, you will want to know what the law requires if you make a profit, capital gain, on its sale.  This might also help you determine how long you stay in your home before you decide to sell, and how much you decide to sell your home for. The gain on the sale of a home is considered a gain on the sale of a capital asset. There are both short-term capital gains and long-term gains. Short-term gains are gains on investments (i.e. home, stock, land, business, etc.) which are sold...…Your home is likely your largest asset, so there is no doubt when it comes time to putting it up on the market, you will want to know what the law requires if you make a profit, capital gain, on its sale.  This might also help you determine how long you stay in your home before you decide to sell, and how much you decide to sell your home for. The gain on the sale of a home is considered a gain on the sale of a capital asset. There are both short-term capital gains and long-term gains. Short-term gains are gains on investments (i.e. home, stock, land, business, etc.) which are sold...WW…