I had originally thought I would qualify for full exclusion because I will have stayed in my current property for 2 years and 1 day as primary home before closing. However, my prior property was sold AFTER I bought the current one I reside in. Because I excluded gains from that one, because my new sale will happen before the 2 year mark of the prior sale, I qualify based on the 2-of-5 rule but I don't qualify based on the look-back rule. Is this right? However, we are moving to a new state because of new jobs. How does one show this to the IRB? Will I need to submit my contract at the current and new job? And is there a time frame allowed? For example, if I close on my property in late May but my contract does not start until July, would that still work? I could not find specific answers to these elements. I was not expecting to not qualify for full exclusion because I incorrectly thought all it took was living here for 2+ years. However, I will have lived here for ~92% of the period, so my exclusion would still be > 450K. I will most certainly not have more capital gains than that (calculating ~150K), so I will not be taxed on that. Did I get this right? Thanks for all the help!
