Do I pay 5% or 15% capital gains if I have no income but sell my million dollar home?

Question

I greatly rounded these numbers, but the answer will be the same for my situation. If I paid $100,000 for the home, I don't know if I'd pay capital gains of 5% or 15%. I've owned the home for fifteen years.

I understand the $250,000 deduction.

Answer 1

http://www.msco-cpa.com/cghs97.htm

"For taxpayers in the lowest tax bracket (15%), long term capital gains are taxed at only 10%, effective for sales after May 6, 1997."

Answer 2

You would have to pay 15% on your gain - approximately $650,000 ($100,000 cost basis + $250,000 exclusion), minus any improvements invested in the home.