I have read that due to the fact that my move was job-relocation related I may qualify for an exception based on the time I lived in it vs the time it was rented our during the 5 years prior to selling it.
Using the information you provided, you "may" qualify for a partial exclusion. If so, you can exclude 22/24ths of your gain from being taxed. I'm getting my information from IRS Publication 523 at https://www.irs.gov/pub/irs-pdf/p523.pdf on page 6 of that document. It states:
You can meet the requirements for a partial exclusion if the main reason for your home sale was a change in workplace location, a health issue, or an unforeseeable event.
Work-Related Move
You meet the requirements for a partial exclusion if any of the following events occurred during your time of ownership and residence in the home.
• You took or were transferred to a new job in a work location at least 50 miles farther from the home than
your old work location. For example, your old work location was 15 miles from the home and your new work
location is 65 miles from the home.
• You had no previous work location and you began a new job at least 50 miles from the home.
• Either of the above is true of your spouse, a co-ownerof the home, or anyone else for whom the home was
his or her residence.
So if your old job was 15 miles from the house, and your new job is 65 miles or more from the old house, then using your numbers you would qualify for a partial exclusion of 22/24ths of your gain.
When entering this information in the program, it will figure this and "do the math" for you, provided of course, you answer the questions correctly and enter your data accurately.
