What strategies can you use to not pay taxes

[Rickey Davis]

I heard on bigger pockets podcast that if you live in your house for two years when you sell it the government doesn’t tax you on the profit. Is this true? What’s the conditions and is this nationwide?

[Basit Siddiqi]

@Rickey Davis

It has to be your personal residence for 2 out of the last 5 years.
This is section 121 exclusion.
It may or may not exclude your total gain. 
It depends on the gain and your filing status.

Something to discuss with your accountant if you plan to sell your house soon.