Taxes on selling home

[Tyler Harrel]

Hello All,

Looking for some guidance on the profit made from selling a home. I understand that there are closing costs, fees for realtors and possibly repair costs associated with paying for when selling a home, but I am wondering the taxes associated with the profit made from selling the home.

If I don’t use the profit money to buy another property, does that money get taxed? If so, what is it in the state of Florida?

Thanks