Hi,

I currently own a home in California and would like to sell it. I know if I have lived there for atleast 2 years in the past 5 years, I could avoid tax on $500,000 (married, filed jointly) but I have lived in that house for only 4 months in the past 5 years. I would like to get some advice on the ways to avoid capital gains tax. I don't mind holding on that property for a few more years if there's a way to avoid capital gain tax on it. Thanks in advance.

Sreekanth