<< Married.Purchased home #1 6-30-94Sold home #1 3-31-98 due to job relocation.Rolled entire gain into purchase of home #2 on 10-31-98.Now, want to sell home #2 and not pay capital gains. This sale will not be due to relocation.If I sell prior to 10-31-00, Do I qualify for the "Reduced Maximum Exclusion" mentioned in IRS publication 523? I base this on exception #2 under "Reduced Maximum Exclusion". Or, would selling after 3-31-00 allow me to be eligible for the "Maximum Exclusion" or do I just have to wait till after 10-31-00 to be eligible for the maximum exclusion? >>You have to wait until you've owned and lived in the home for 2 years since you don't meet any of the qualifications for the reduced exclusion. It may seem unfair, but it's the law, and it was the law when you bought your current home.Phil MartiTax Preparer
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