Tax due on sale.

yes

pretty sure u pay tax on that. The 'reinvest' in a new primary residence was the old rule before they had the $250/500k exemption.

and now i think that also Medicare taxes are due, not only capital gains.

thank you.

I believe that only the portion that is above the $250K gain will be taxed.

Consult your tax adviser, and this isn't legal advice, but there is a time requirement before you would be eligible for the $250k exemption.

Actually, the $250K exemption is only valid for several years and that time period begins the day you close the sale of your former home. You don't have to wait to buy the next home. If you wait too long to buy the second time, then the exemption will expire (if memory serves me correctly, you must buy again within four years for the exemption to apply). If your sale closes on a Monday, and you close on the new home the next day, the exemption applies, provided other conditions are met, e.g. you must have owned the just-sold house for at least two years and lived in the just-sold house for at least two of the last five years.