Legal Question in Real Estate Law in California

You really need to seek your own tax advice. The question of capital gains is one which you need analyzed based on your personal financial circumstances, and a free, online forum such as this is not the proper place to get tax advice upon which you can rely. For the rather nominal cost of consulting a tax attorney or CPA, you get the peace of mind of knowing whether or not you will have tax implications as a result of the sale.

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What is your concern about capital gains taxes? Will you have to pay them? Yes, if you have a gain. If it is your personal residence, whether you buy a new house with it or not is irrelevant, as is your age. You do, however, get a $250,000 exemption if you are single, or $500,000 if you are married. So if your gain is less than that you won't have to pay. If it is more than that you have to pay only on the gain over the limit. If it is a rental property, consult a good 1031 exchange company. You can defer any capital gains on rental property by doing a 1031 exchange.