My wife and I contracted a builder 10/31/2012 and closed on the home 7/17/2013. We are contemplating selling the home already and need to know what tax implications (if any) we might run into based on the following:

Sell the home prior to the 24 month mark (we're at 21 months now).
Take gain from the home (approx $70K) and apply it to equity in new home.
Do not meet partial exclusion requirements (health, job, etc).

I understand the obvious easy answer is to wait 3 months, but situation could dictate otherwise.

I believe the old laws allowed you to "roll" your equity over without considering it a gain, but I'm having trouble locating anything in the IRS tax code indicating that is still the case. Please advise.