Tax implications when I sell a property

[Ian Russell]

Hi I have a property in San Jose California that I bought in 2011.  It was my primary residence until last year when a job took me out of state.  I still own the property but it is now a rental.  I have rented it out for one year.  I thought there may have been something that states if you live in a property for two years or more you get some kind of tax break?  I think now that its a rental house this may now not be the case?   Anyways I purchased the property for 388,000 and its now around 850,000.  Im thinking of selling it but wanted to know about the tax implications first.  Your feedback would be appreciated.

thanks

Ian