Capital Gains Rollover Prior To 1997...

[Todd Tripp]

Does anyone know whether or not the gain from the sale of a home prior to 1997 that was rolled over to another home is taxable if sold today?

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Example

Original home sold in 1990 for a gain of $50k

New home bought for $150k with $50k down with rollover money and loan amount of $100k.

Now selling new home for $300k
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I know that gain up to $500k is tax free for married couples ($150k), but unsure if the original $50k they put down will be taxed.

Thanks,

toddrei