If spouses filing jointly live in one home together for two years (within the last 5 years) and then move to a new home (while still owning the original home) and live there for two years (within the same 5-year block), can both homes be sold in a single year with one spouse taking the $250K exemption on the original home and the other spouse taking the $250K exemption on the new home?
I guess the main question is whether their living in the same home in both instances negates the potential for the separate-home treatment for the exemption (even though they each lived 2 of the last 5 years in the respective homes on which they intend to use the exemptions) and they have not used the exemption (jointly or singly) in the last two years.
If the answer is "yes", how does one do this in TT?
Thanks!
