Capital Gains on 2 homes
I'm planing on selling 2 houses next year. The 1st house was bought in 2014 and I lived in it from 2014-2015(2 full years). 2nd house was bought 2016 and I plan on living in it until 2018(2 full years). I plan on selling both houses in 2018.
I know the rule that you don't have to pay capital gains, up to $500k for couple, on homes you lived in for 2 of 5 years but someone told me that because I'm selling both in same year or that because its the same 5 year span for both house, I might have to pay capital gains.
Can anyone help clear this up for me?