| I bought my current house in March 2015 and sold a previous house in April 2015. On my 2015 tax return I excluded the gain on the sale. I am now thinking about moving again. I have met the other rules, but there is a rule about not having excluded the gain on sale of another house within the last two years. My question is this: When does the two years start?=======>in April of 2015( i guess the home purchased in March of 2015 was not your primary home until the old home was sold in Apr of 2015);you CAN GENERALLY CLAIM ONLY ONE exclusion every 2 years. To qualify for the $250k/$500k home sale exclusion, you must own and occupy the home as your principal residence for at least 2 years before you sell it. If your home was your residence for at least 24 of the months you owned the home during the 5 years leading up to the date of sale, you meet the residence requirement. The 24 months of residence can fall anywhere within the 5-year period. It doesn't have to be a single block of time. All you need is a total of 24 months (730 days) of residence during the 5-year period.
Is it 2015 and 2016, so now in 2017 I'm good to go? Or do I need to wait until 2018?======>at least after April of 2017, If you didn?t exclude gain for selling a home on your tax returns for the previous 2years (and you don?t intend to do so on any returns or amended returns for the past 2 years that aren?t yet filed), you meet the look-back requirement.
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