Are sale proceeds of a home taxable income?

Yes, the sale proceeds of a home can be considered taxable income, but it depends on certain factors. If you sell your primary residence, you may qualify for a capital gains exclusion, allowing you to exclude up to $250,000 ($500,000 for married couples) of gain from the sale if you meet specific ownership and use tests. However, any profit exceeding these limits may be subject to capital gains tax. It's advisable to consult a tax professional for guidance based on your individual situation.