Tax implications for selling my personal home

[Andrew Linderer]

So i bought my first home about 3 years ago.  Did a live in flip and am looking to sell it.  With the way the market is, I'm thinking about renting instead of buying.  I've got a loan on my truck that I'd like to pay off with proceeds from the house as well.  

What are the tax implications if I don't buy a new property with the close to 60k that I should make when I sell the house?  Will I get taxed at my normal rate?  Will it be additional if I don't use all the profit on a new house? 

If I do buy a new house but I don't use all the profit from the first house, are there tax implications there?  If I use some of what I make on the house to pay off my truck and some of it to put in savings and some of it for a down-payment on something new, how do I get taxed on the 60k that I make from the sale?