What are the tax consequences of downsizing in Kennesaw?

Selling a long-held Kennesaw home mainly raises one tax question: capital gains on the sale of a primary residence. Federal law lets most owner-occupants exclude a meaningful portion of that gain if they lived in the home as their main residence for the required period, and anything above the exclusion is taxable. The exact numbers depend on the original purchase price, improvements and the eventual sale price, so a CPA should run the specific calculation. A current valuation from Joel Boss gives that CPA real figures.