Homeowners exclusion - claiming after 2 years
I bought my current house on February 15, 2016. I have lived there ever since and will have lived in the home for 2 full years on February 15, 2018.
I had sold my previous house on April 18, 2016. I had owned and lived in that house for 5 years and sold it for a ~$60k gain. I claimed the homeowners exclusion on my 2016 return.
I plan to sell my current house and expect to realize a gain of ~$80k. To be able to claim the exclusion once again, I expect to wait to sell it until April 19, 2018. I will have lived in the house for two years and also will not have used the homeowners exclusion in the previous two year period (for my previous home).
Is this correct? Can I claim the exclusion once in 2016 and then again on my 2018 return? Want to confirm that claiming the exclusion is based on 2x365 days vs. calendar year (ie, have to wait until January 1, 2019 to be able to claim the exclusion in 2016, not in 2017 and 2018, and then claim again in 2019).